Today’s retail sales increased to the expected 1% today. Without car sales it was .07%.
Consumer confidence dived, however. It was 77.5 in February but today registered 68.2. It’s the worst reading since October and surprised analysts.
Charles Payne at Fox Business commented, “the component that I watch is expectations; where people believe things will be in six months. The reading is 58.3 from a month ago when it was 71.6. That is a gigantic drop