UMich flash data show a significant V-shaped recovery in consumer confidence in June, and the final version is expected to show further improvement, but disappointed as there were no more expectations.
University of Michigan The final mood index fell to 78.1 from a preliminary value of 78.9,
The indicator of current conditions was 87.1 after a preliminary reading of 87.8 – although compared with 82.3 in May.
The expectations index fell to 72.3 from the original 73.1 and compared with 65.9 in May, which was the lowest since 2013.
The report showed that sentiment grew by only 0.5 points in the south and by 3.3 points in the west, in regions where there has been an increase in cases of coronavirus. According to the university, in the north-east of the country, where distribution was limited, trust jumped the most.
“The early recovery of the economy undoubtedly restored jobs and incomes, but it was due to a likely increase in the spread of the virus,” said Richard Curtin, director of the survey.
” virus rebirth will be accompanied by a decrease in consumer demand among residents of the southern and western regions and may even soften consumer reactions in the northeast.“”
Purchase conditions recovered with increasing demand for cars
The mood among Republicans and independents is restored much faster than among Democrats …
General trust in government economic policies fell to the lowest level in June since President Donald Trump took office. which may emphasize the need for additional assistance programs from lawmakers.