While it's a bit of a surprise, the slightly downbeat news on confidence can be explained by the ongoing weakness in employment, and perhaps consumers are a little concerned about the backup in mortgage rates. But while they're becoming less confident, they're still buying -- the latest sales numbers still look good.
More Quotes from Douglas Porter:
This points out that the labor market remains as tight as ever.Douglas Porter
At least one spooky theme behind these moves has been mounting concern that the latest spike in energy prices will cascade into other costs and prices, drive up inflation expectations and force the Fed to be even more fearsome than expected in its tightening campaign,
Douglas Porter
The industrial sector is cruising along at a moderate but not spectacular pace, and that's a good thing at this stage of the expansion.
Douglas Porter
It's a red flag. Any time the nation's largest retailer stumbles a bit, it's a warning sign.
Douglas Porter
There really can be little debate now that Western Canada is already experiencing the closest thing to full employment in over three decades, with the jobless rate west of Ontario just barely above four per cent.
Douglas Porter
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