Friday, June 14, 2013

Global Stock Rout Hits Consumers: Sentiment Falls On Tax Hikes And Taper Fear

According to the gurus at Forbes consumers were slightly less confident on the economic recovery in early June after stock markets across the globe fell and tax hikes hit households…..The now-controversial Thomson Reuters /University of Michigan consumer sentiment number was released Friday morning, showing a slight decline in June over May, when the index hit its highest levels in nearly six years.  The number, which is leaked early to high-frequency traders for a fee, was dragged down by the current conditions part of the equation, as consumers recalibrated their views on the recovery after recent market weakness and a surge in global volatility.

Consumer sentiment ticked down to 82.7 in early June, falling from a post-crisis high of 84.5 in late May, and failing to meet consensus….

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