General
European Consumer Confidence Plunges; Misses By Most In 30 Months
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EuropeanConsumerConfidencePlunges; MissesByMostIn 30 Months
Despiterecordlowyieldsonsovereignbonds, recordhighstockprices, and a political elite proclaiming it’s all shits and giggles from here… it seems record unemployment, record suicide rates, record bad loans, and record low credit creation were finally enough to trump the ‘wealth effect’ exuberance that European consumer confidence has envisaged in recent months. This is the biggestdropinconfidencein 18 monthsandthebiggestmisssinceAug 2011. This is a 3 sigma miss from expectations and below all 25 "economist" guesses. How’stheweatherinEurope?