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High frequency sentiment indicators point to weakening consumer confidence – Sober Look

This is a syndicated repost courtesy of Sober Look. To view original, click here. Reposted with permission.

As discussed earlier (see post), improvements in the US consumer sentiment that we’ve been seeing earlier this year seem to have stalled. The high frequency polling indicators from Gallup and Rasmussen are both showing this reversal in trend.

Source: Gallup
The August measure is a simple average of daily polling results through Aug-30th
(source:  Rasmussen)

Given the timing of the inflection, the cause is likely due to increases in interest rates and stock market volatility. Also energy prices started rising in July, which may have contributed to further declines in sentiment. Moreover, we are unlikely to see consumer attitudes improve in the near-term, given the situation in Syria and the upcoming federal budget battle.

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