Here’s Why Today’s Consumer Confidence Number Was Exceptionally Scary
Courtesy of Joe Weisenthal at Clusterstock
Here’s some more color on this morning’s weak consumer confidence data courtesy of our friends at Waverly Advisors.
As you can see, it’s the 55+ over set losing hope the fastest while youth are on the rebound. The problem is that the 55+ are the most likely to make big-ticket purchases that are crucial to a spending rebound.
And just to clarify, young folks are generally more optimistic than those older, but the divergence is a surprise (especially in light of high youth unemployment)
Source: Waverly Advisors
