US: Consumer Confidence fell notably – JP Morgan

The JP Morgan Analysts express their take on the US Consumer Confidence data, which disappointed on Tuesday and underscored the fragile US economic recovery from the coronavirus pandemic.

Key quotes

“US consumer confidence fell notably.

These disparate survey outcomes may reflect the larger hit to US employment and greater uncertainty about the extent of US fiscal support.

Concerns about the COVID-19 outbreak also may be playing a role, as the pace of new cases remains much higher in the US than elsewhere.”