(click on charts to enlarge images)
![Conference Board Consumer Confidence](https://www.economicgreenfield.com/wp-content/uploads/2017/06/Dshort-6-30-17-Conference-Board-Consumer-Confidence-e1498845308396.png)
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![Michigan Consumer Sentiment](https://www.economicgreenfield.com/wp-content/uploads/2017/06/Dshort-6-30-17-Michigan-Consumer-Sentiment-e1498845383895.png)
There are a few aspects of the above charts that I find highly noteworthy. Of course, until the sudden upswing in 2014, the continued subdued absolute levels of these two surveys was disconcerting.
Also, I find the “behavior” of these readings to be quite disparate as compared to the other post-recession periods, as shown in the charts between the gray shaded areas (the gray areas denote recessions as defined by the NBER.)
While I don’t believe that confidence surveys should be overemphasized, I find these readings to be very problematical, especially in light of a variety of other highly disconcerting measures highlighted throughout this site.
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The Special Note summarizes my overall thoughts about our economic situation
SPX at 2427.45 as this post is written
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