U.S. consumer confidence up for first time since 2007

steven johnson

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Tue Oct-27-09 11:59 PM
Original message

U.S. consumer confidence up for first time since 2007

I do love irrational exuberance.

I think I'm going to go crazy and buy a refrigerator.

Global consumer confidence is rebounding, and in the United States has risen for the first time since 2007, amid signs the world economy is picking up although spending is still restrained, a survey showed on Wednesday.

Confidence was highest in India, followed by Indonesia and Norway, and was weakest in Japan, Latvia, Portugal and South Korea, although in Korea it had improved markedly, according to a quarterly survey by The Nielsen Company, conducted between September 28 and October 16.

"Consumer confidence is rising faster in BRIC countries than other markets, driven by increasing job prospects," Oliver Rust, managing director of Nielsen Hong Kong, told Reuters.

In the United States -- the world's biggest consumer market -- consumer sentiment rose from three months ago for the first time since early 2007. The data contrasts with a Conference Board index of U.S. consumer confidence, released on Tuesday, which showed a sharp deterioration in confidence this month.

U.S. consumer confidence up for first time since 2007

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Double T

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Wed Oct-28-09 12:09 AM
Response to Original message

1. Only thing I'm confident about is if we continue printing money we're going to follow Iceland.......

into the financial abyss. I don't believe for a nanosecond that Americans are becoming more confident about our economy and financial system; more pure BS propaganda.

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CoffeeCat

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Wed Oct-28-09 12:20 AM
Response to Original message

2. I think this survey is bunk...

There have been two studies (one is mentioned in the article) that have shown that US consumer confidence
took a sharp dip in October. I think reality is settling in. The media aren't even peddling their
nonsense "greenshoot" malarkey anymore.

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Skittles

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Wed Oct-28-09 12:27 AM
Response to Original message

3. highest in India

:puke: at the cost of our jobs

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Pirate Smile

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Wed Oct-28-09 12:37 AM
Response to Original message

4. At least the article points out that this conflicts with another Consumer Confidence

Edited on Wed Oct-28-09 12:40 AM by Pirate Smile

reading that came out today - but not really because this is an every 3 months survey as opposed to the every month survey that also came out today.

"In the United States -- the world's biggest consumer market -- consumer sentiment rose from three months ago for the first time since early 2007. The data contrasts with a Conference Board index of U.S. consumer confidence, released on Tuesday, which showed a sharp deterioration in confidence this month."

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