US consumer confidence soared higher again in January according to the Conference Board, with the headline up from 108.0 (revised down) to 114.8 (above the 114.5 exp). This was driven a huge surge in 'present situation' (from 147.2 (revised down) to 161.3). That is the highest present situation index since the start of COVID lockdowns...
Source: Bloomberg
But, for the third straight month, The Conference Board revised its consumer confidence data significantly lower.
Source: Bloomberg
Which brings up the same question we had last month?
How do you revise consumer confidence down? Do you ask them again and they tell you, "You know what, I wasn't feeling it as much as I thought I was"
— Zebra Cat (@ZebraCat20) November 28, 2023
The labor market indicators trended notably stronger in January...
Source: Bloomberg
The Conference Board's indicator inflation expectations tumbled further to +5.2% - still notably high but trend in the right direction...
Source: Bloomberg
And so we ask again - Is Bidenomics all simply driven by 'seasonal adjustments' and historical revisions?
