Conference Board Consumer Confidence 'Revised Down' Again...

For the eighth month in the last nine, the headline Conference Board Consumer Confidence print was revised lower in June (dramatically so)...

Source: Bloomberg

That June revision from 100.4 to 97.8 then allowed the headline to 'beat' in July at 100.

3 (which is still down from the original June print) but flat at post-COVID lows. Notably the Present Situation tumbled to its lowest since April 2021...

Source: Bloomberg

The overall trend in the labor market indicator remains weaker...

Source: Bloomberg

...and Purchase plans for homes, cars, and appliances all plunged...

Source: Bloomberg

Just remind us again how exactly 'confidence' can be revised lower?