The public sentiment suggests a movie flop, but the data show a sequel that beats expectations.
Consumer sentiment just printed a preliminary 46.3, a reading below the 1st percentile of the University of Michigan survey's history and lower than where it stood when any of the six recessions on record began. Yet the economy grew at a 2.2 percent annual rate in the second quarter, and final sales to private domestic purchasers, the cleanest gauge of underlying demand, rose at a 4.6 percent pace. The public sentiment suggests a movie flop, but the data show a sequel that beats expectations.
Headlines tell you what a gallon of gas costs this morning. Fundamentals tell you what companies earn ...
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