Gavekal Capital: Consumer confidence spread between richest and poorest Americans reaches all-time high

Tuesday, October 29, 2013

Consumer confidence spread between richest and poorest Americans reaches all-time high

The overall consumer confidence index fell from 80.2 to 71.2 in October due mainly to the government shutdown this past month. The consumer confidence survey also takes the temperature of consumers in different income brackets. What caught our eye was the difference in confidence between the richest and poorest Americans. The spread between the two reached an all-time high in October. Perhaps an unintended consequence of QE?

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