Low Consumer Confidence May Halt Spending Low Consumer Confidence should be no surprise with the continuously rising rate of inflation and interest rates. The monthly report on consumer confidence published by the Conference Board has been receiving more attention lately, since it may provide information on upcoming spending habits. The latest reading released this week revealed a larger than expected decline, the lowest level since February 2021. There were also some interesting divergences in the details of the report. While consumers expected the labor market to remain very strong, they also intend to scale back a on pricier purchase. These include, large appliances, motor vehicles, vacation travel later in the year. Low Consumer Confidence Drops Along With ISM Report Low Consumer Confidence isn't the only economic indicator. Another significant economic indicator was released this week from the Institute of Supply Management (ISM). Reports show a drop to the lowest level since June 2020. The national manufacturing index has Fallen to 53.0.This is below the consensus forecast of 54.5. Still, levels above 50 indicate that the sector is expanding. Core PCE Rises Despite Low Consumer Confience The PCE price index is the inflation indicator favored by the Fed. In May, core [...]