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News Link • Economy - Economics USA

Cognitive Dissonance: Economic Propaganda and Reality Clash In Latest Data

It may be too early to get a definitive answer on this question, but we wanted to toss out the fact that something isn't adding up regarding the consumer in April. According to the Conference Board, consumer confidence actually improved in April. Fine. But we've now got two surveys -- one from the Washington Post, and one form the New York Times -- confirming a sharp jump in worry about the direction of the economy. It seems very unlikely that consumer confidence could improve at the same time there's been a big jump in overall concern about the economy, owing in part to higher gas prices. Combine those surveys with more weak regional Fed Data, and the signs of a slowdown continue to pile up.

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