The Conference Board’s consumer confidence index declined in June, although somewhat less than expected: specifically, this indicator stood at 100.4 from 101.3 previously and slightly above the 100 expected. This lower confidence was mainly explained by the decline in the expectations component (73 versus 74.9 previously), as the reading of the current situation improved (141.5 versus 140.8 previously). Still in the US, the S&P Case-Shiller index of house prices in…

Intermoney | US May industrial production shows muscle as it grew by a strong +0.9%m. We were taken by surprise by the solid data considering that the ISM manufacturing survey for May pointed to only a slight rebound, although other indicators pointed to some recovery. Manufacturing activity, the most relevant item, largely explained the figure, as it also rose by 0.9%, led by consumer goods (1.3%) thanks to the expansion…

Santander Research: After a first quarter of surprisingly strong economic data and inflation, April seems to be a slowdown, as indicated by our economists. And that starts with payrolls (175k) and, above all, consumption slowing down, from the explosive +3% growth of 3Q23 and 4Q23 to +2% in 1Q24 after revisions. And what is even clearer, 2Q24 started with April’s nominal growth of +0.2% and even negative in real terms,…