WHOOPS: Consumer Confidence Unexpectedly FALLS To 74.3

iPad line sarasota

Photo: rkelmy

UPDATE:It’s a miss!

Analysts expected consumer confidence to go from 75.3 last month to 76.0 this month.

But instead it actually dropped to 76.0.

There was a big jump in inflation expectations, which is interesting, and not all that surprising given the jump in gas prices and whatnot.

It is a bit inconsistent with other readings, which have showed confidence rising week after week.

Markets remain basically flat… just a tick to the downside.


Original post:

The last big datapoint of the day: The University of Michigan Consumer Confidence Index is revealed at 9:55 AM ET.

Analysts are looking for a reading of 76.0, up a bit from 75.3.

Mostly consumer confidence surveys have been looking very good, and it’s hard to detect a big sentiment impact from gas prices. We’ll be on the look out for that.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.