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-   -   Economics Consumer confidence hits a 5 year high. (http://www.chiefsplanet.com/BB/showthread.php?t=265020)

Direckshun 10-12-2012 09:10 AM

Consumer confidence hits a 5 year high.
 
I'd say we're getting there.

Finally.

http://www.cnbc.com/id/49388260

Consumer Sentiment Rises Unexpectedly to 5-Year High
By: Reuters
Published: Friday, 12 Oct 2012 | 10:03 AM ET

U.S. consumer sentiment unexpectedly rose to its highest level in five years in October as consumers became more optimistic about the overall economy in a possible boost to President Obama's reelection hopes next month.

The Thomson Reuters/University of Michigan's preliminary October reading on the overall index on consumer sentiment came in at 83.1, up from 78.3 the month before, and the highest since September 2007, the survey showed on Friday.

It was well above the median forecast for a slight decline to 78 among economists polled by Reuters.

The new buoyancy among consumers comes shortly after the U.S. unemployment rate tumbled to its lowest level in nearly four years in September as more people returned to the workforce and found jobs than economist had predicted.

"We are getting some quite interesting signals from consumer sentiment and employment data both (the) unemployment rate and initial claims that there has been some quite significant improvement in the economy," said David Sloan, an economist at 4Cast in New York.

U.S. stocks were higher after the news. The S&P 500 [.SPX 1434.59 1.75 (+0.12%) ] climbed 0.2 percent in morning trade but pared some of its earlier gains as equities struggled to make headway after recently climbing to highs not seen in five years. Meanwhile, U.S. Treasury debt prices trimmed their gains. (Read more: Biggest Debtor Nations)

The unexpected jump in consumer sentiment in October came as consumers felt better about the economy in both the long and the short term, the compilers of the Thomson Reuters/University of Michigan survey said.

"What changed was how they (consumers) evaluated economic conditions," survey director Richard Curtin said in a statement. "Economic conditions during the year ahead were expected to be 'good' by more consumers, and more consumers expected 'good' economic times over the next five years."

The survey's gauge of consumer expectations jumped to 79.5 from 73.5, well above an expected reading of 74. Expectations were at their highest since July 2007.

The survey's barometer of current economic conditions rose to 88.6 from 85.7 and was above a forecast of 86.

A separate report showed U.S. producer prices rose more than expected in September as the cost of gasoline surged, but underlying inflation pressures were muted in a sign the Federal Reserve has room to carry out its new monetary stimulus program.

The Labor Department said on Friday its seasonally adjusted Producer Price Index increased 1.1 percent last month. Economists polled by Reuters had expected prices at farms, factories and refineries to rise 0.7 percent after climbing 1.7 percent in August.

stevieray 10-12-2012 09:14 AM

how many of these types of articles have you posted over the last couple of years? the fact that you keep trotting them out disproves your rah!rah! BS

ROYC75 10-12-2012 09:37 AM

Forward !


At a snail's pace! That's your Hope & Change in action folks.

mlyonsd 10-12-2012 09:38 AM

The boost comes from the possibility the four year debacle might be coming to an end.

BigCatDaddy 10-12-2012 09:38 AM

Quote:

Originally Posted by mlyonsd (Post 9004933)
The boost comes from the possibility the four year debacle might be coming to an end.

That was my thinking. It was probably taken after the 1st debate.

Saul Good 10-12-2012 09:39 AM

I know I'm starting to feel a little more confident.

CoMoChief 10-12-2012 09:51 AM

You're a ****.

Bump 10-12-2012 10:00 AM

Quote:

Originally Posted by CoMoChief (Post 9004975)
You're a ****.

http://i1106.photobucket.com/albums/...zouPitHair.jpg

Direckshun 10-12-2012 10:09 AM

Quote:

Originally Posted by mlyonsd (Post 9004933)
The boost comes from the possibility the four year debacle might be coming to an end.

This is the point where I'd ask you if you'd be willing to bet that consumer confidence doesn't drop after November 6.

But you'd either puss out, or only agree to bets where you'd have to admit you're wrong in private.

But if you want to put your money where your mouth is on this, I'm 100% game.

ChiefaRoo 10-12-2012 10:11 AM

Thank goodness everyone is so confident. I'm glad the economic crisis is over and we can all carry on.

Today will be a great day. I'll fill my car up for $1.85/Gallon, head over to the store and pick up some Prime Steaks for the Grill at $9.00/lb and then drive over to my friends house who was stressing last week about his job security and the fact that his house was underwater by $75,000.

Donger 10-12-2012 10:14 AM

Quote:

Originally Posted by mlyonsd (Post 9004933)
The boost comes from the possibility the four year debacle might be coming to an end.

Yep. Light at the end of the dark tunnel.

patteeu 10-12-2012 10:16 AM

Quote:

Originally Posted by Direckshun (Post 9005004)
This is the point where I'd ask you if you'd be willing to bet that consumer confidence doesn't drop after November 6.

But you'd either puss out, or only agree to bets where you'd have to admit you're wrong in private.

But if you want to put your money where your mouth is on this, I'm 100% game.

You won't be here after November 6, unless Chiefshrink shows you some mercy.

mlyonsd 10-12-2012 10:25 AM

Quote:

Originally Posted by Direckshun (Post 9005004)
This is the point where I'd ask you if you'd be willing to bet that consumer confidence doesn't drop after November 6.

But you'd either puss out, or only agree to bets where you'd have to admit you're wrong in private.

But if you want to put your money where your mouth is on this, I'm 100% game.

Puss out in private? WTF does that mean?

And why would I make your bet when there's still a 50% chance Obama is going to win?

J Diddy 10-12-2012 10:27 AM

Quote:

Originally Posted by patteeu (Post 9005024)
You won't be here after November 6, unless Chiefshrink shows you some mercy.

Ah, patteeu, still holding tight to your delusions as if they were your teddy bear.

cosmo20002 10-12-2012 11:18 AM

Quote:

Originally Posted by Direckshun (Post 9004871)
I'd say we're getting there.

Finally.

http://www.cnbc.com/id/49388260

Consumer Sentiment Rises Unexpectedly to 5-Year High
By: Reuters
Published: Friday, 12 Oct 2012 | 10:03 AM ET

Consumer Sentiment index - rigged
Unemployment index - rigged
All pre-debate polls - rigged
Post-debate pools - Those seem ok
/right wing nutjob


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