Still Sucks

I am, of course, referring to the consumer confidence numbers, which rose marginally but remain close to last month's all time low.

We are in a recession.

Consumer sentiment improved to begin June, according to the University of Michigan’s monthly survey, as a retreat in gasoline prices boosted Americans’ economic spirits.

The Michigan consumer-sentiment index bounced off its all-time low set in May to rise to 48.9 in the initial June reading, from 44.8 a month earlier. Economists polled by The Wall Street Journal had been expecting a reading of 46.

A final June figure will be published later this month, based on additional interviews.
“Lower-income consumers exhibited a particularly strong sentiment increase, consistent with the fact that gasoline comprises a larger share of their budgets,” said Joanne Hsu, the survey’s director. She said sentiment overall remains downbeat, with concerns focused on a recent pickup in inflation.