US: Expect steady improvement in Conference Board’s consumer confidence index - Nomura

Analysts at Nomura expect a steady improvement to 122.0 for the August print of US Conference Board’s consumer confidence index.

Key Quotes

“The preliminary August issue of the University of Michigan survey suggests that a surge in sentiment was led by self-identified Republicans who became more confident about current and future conditions. Further, recent polls suggest that controversies related to President Trump’s response to the events in Charlottesville, VA, may have little effect on Trump’s standing with Republican voters.”

“The Michigan survey and these polls suggest that a partisan tinge persists and ongoing controversies may have little impact on consumer sentiment. In this sense, it is the continued strength in consumer fundamentals which may continue to boost consumer confidence.”