Consumer Sentiment in U.S. Rises to Pre-Recession High
Source: Bloomberg
Confidence among U.S. consumers unexpectedly jumped in October to the highest level since before the recession began five years ago, raising the odds that retailers will see sales improve.
The Thomson Reuters/University of Michigan preliminary October consumer sentiment index increased to 83.1 from 78.3 the prior month. The gauge was projected to fall to 78, according to the median forecast of 71 economists surveyed by Bloomberg News.
Rising stock and property values along with falling joblessness may keep giving Americans a psychological boost, brightening the household-spending outlook during the year-end holidays. Improving confidence may play a role in next months election as Republican challenger Mitt Romney tries to make a case for unseating President Barack Obama, a Democrat.
People expect the economy is going to be healthier next year, they expect their job prospects to get better and they even expect their income to be a little better, Christopher Low, chief economist at FTN Financial in New York, said before the report. People do seem to be comfortable saving a little less and spending a little more.
Read more: http://www.bloomberg.com/news/2012-10-12/consumer-sentiment-in-u-s-rose-in-october-to-pre-recession-high.html
bamacrat
(3,867 posts)Sorry I was just channeling the GOP and M$M...
maddogesq
(1,245 posts)this consumer stuff is more revealingt than any bouncing poll needles, IMHO.
hoosierlib
(710 posts)This is further proof that the economy is improving. Hopefully, undecided voters are paying attention.
adigal
(7,581 posts)We are doing much better!
Bluzmann57
(12,336 posts)Issa and the rest of the wastefuls better investigate this!
Damn dummies.
jpak
(41,758 posts)4lbs
(6,858 posts)the GOP.
andym
(5,445 posts)Stellar
(5,644 posts)...was get elected, and everything will automatically turn around in this country. He wanted to live on Obama's works.
Dawson Leery
(19,348 posts)llmart
(15,545 posts)that this should come out right before the election. You just know it's another example of how Obama/Biden are manipulating the data.
Do I need to say this is sarcasm?
andym
(5,445 posts)It's very good news for the country and for Democrats!
It should be repeated near and far, by everyone here.
If you're calling people on behalf of the campaign, please mention it.
TomCADem
(17,390 posts)...and Romney is attacking what?