Consumers may drive 70% of U.S. economic growth (GDP). And consumers may be quite confident about the present-day economy.

On the flip side, the difference between consumer expectations for the future and current consumer conditions is at levels seen just before previous recessions. This is typical of a final stretch in a credit cycle, as opposed to what one sees at earlier stages.

Eeeeeeee Bit What?
It's Only a Manufacturing Recession