June 28, 2011

UNEXPECTEDLY! U.S. Consumer Confidence Hits Seven-Month Low. “Confidence among U.S. consumers unexpectedly fell in June to a seven-month low, indicating that slowing employment gains are weighing on Americans’ outlooks. . . . Joblessness hovering around 9 percent, rising inflation and falling share prices may keep household sentiment in check, raising the risk that the biggest part of the economy will stagnate. Employers last month added the fewest workers since September, and spending, adjusted for inflation, dropped for a second consecutive time, figures from the Labor and Commerce Departments showed.” With all that being the case, it’s funny that the drop was so . . . unexpected.

UPDATE: Reader Michael Long writes:

Too funny, it is no longer “unexpectedly!”

Professor Reynolds, Please tell me you have a screen-shot shot of Bloomberg’s “unexpectedly”… I just followed your link and they no longer think it is so unexpected.

As a matter of fact, I do. Here’s the story lede as it was when I blogged it. Just for the record.

So I guess I can scratch this off my Bloomberg gift list — they’ve obviously already got one. . . .

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