Although today's consumer confidence report indicated a worse than expected decline to 63.4 versus the expected 65, the index remains in an uptrend. The part of the index that measures how consumers currently feel about the economy improved to 36.9 from 33.8 in February. It would be highly unusual for the index to move higher each and every month. As the below chart shows, consumer confidence and the market's performance are linked at the hip given the consumer's importance to economic growth.
|From The Blog of HORAN Capital Advisors|