Consumer Comfort Index Marginally Affected By Brexit

The first glimpse of an indication of a Brexit effect on the U.S. consumer is marginal, as the consumer comfort index for the June 26 week edged 3 tenths lower to 43.9. The decline is not a surprise, not only given the Brexit vote of June 24, but also because the prior week saw a giant 2.1 point surge to the 44.2 level, a surge that made a retracement likely. This report next week may offer more telling signals on initial Brexit effects at the consumer level.