US Consumer Confidence Is At The Bottom.

In July, the US consumer confidence index dropped to the lowest level in March 2009, reflecting the decline of people's income. unemployment rate Continue to rise and be more pessimistic. In addition, industrial production in the United States grew 0.2% in June than in May, and the growth rate was not as good as expected in the market.

According to Thomson Reuters and the University of Michigan, the initial consumer confidence index in July dropped to 63.8, down from 71.5 in June and 72.5 expected by economists. Consumer confidence in the economic situation has dropped to 76.3, the lowest since November 2009, and consumers' confidence in the next half year has plunged to 55.8, the lowest in March 2009.

Richard Curtin, who conducted the survey, said that in the past, if the consumer's confidence index was so low, the economy had already fallen into recession. But one month's data alone is not enough to reflect that the economy is once again in recession. If the government and the public reach a consensus on raising the debt ceiling, they should be able to boost confidence. This data also shows that real consumer spending in the second half of this year may not be much higher than in the first half.

According to the Fed report, industrial production in the United States grew by 0.2% in June than in May, and the increase was not as good as that in May. market The expected 0.3% is the decline in output value of automobiles and commercial equipment. Last month, auto and spare parts production decreased by 2%, and commercial equipment production decreased by 0.7%.

Capacity utilization in June was 76.7%, unchanged from May, but not as good as 76.9% of the market forecast. Factors such as weakening consumer demand and slowing down replenishment of enterprises may still inhibit the kinetic energy of manufacturing industry, which also highlights Fed's comments.

Neil Dutta, an economist at Bank of America in New York, said that industrial production is a bit sluggish, and that the supply shock of the future manufacturing industry is likely to fade, and car production is expected to increase. manufacturing industry It will develop steadily.