Consumer Comfort Index Drops Sharply

Volatility is appearing in the consumer comfort index which reversed the prior week's surprising surge with a nearly 2 point drop to 42.9 in the July 17 week. The prior result did not point to much of any Brexit effect on the American consumer while the latest result possibly does. Still, 42.9 is a respectable reading right in line the year's trend and pointing to continued confidence in the jobs outlook.