U.S. Consumer Confidence in Q2

I’m late to the ball game on this one but I’m seeing more news about the “consumer comeback” in Q2 and I had to put something up. A 2.6% GDP growth is great and if Bloomberg is to be believed then consumer spending was a significant contributor (1.9%) to that growth. No doubt there was an increase in consumer confidence and that translated to GDP figures but the BEA indicates that core PCE actually dropped in Q2. Coupled with Q3 estimates coming in around 2.6%, I’d anticipate the Fed won’t issue another rate hike for awhile unless we see some significant policy changes from the Trump administration.

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