It is encouraging that consumers are taking the negative things that are happening recently. Possibly the employment situation is outweighing other concerns.

Today's numbers show that consumers are not very optimistic about the economy. As a result, we will see consumer spending reduced until we see some relief on energy prices. If we don't get some relief, it looks like it will be a very weak holiday season.

It looks like consumers are feeling at least better about the current situation. But I still think there is a lot of uncertainty about the future. The geopolitical news is not very comforting.

It's not a big drop. It's reflecting the fact that the economy has improved this year, but not enough that consumers are convinced things are sufficiently better.