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Consumer Sentiment in U.S. Climbs to Highest Since 2007
By Alex Kowalski - May 25, 2012 3:59 PM CT
Consumer confidence rose in May to the highest level since October 2007 as Americans became more upbeat about the prospects for employment.
The Thomson Reuters/University of Michigan final index of sentiment climbed to 79.3, the ninth straight increase, from 76.4 the prior month. The gauge was projected to hold at the preliminary reading of 77.8, according to the median forecast of economists surveyed by Bloomberg News. ...
Consumer confidence in the economy plunged in May
(AP) 5 minutes ago
NEW YORK (AP) Here we go again.
Americans confidence in the economy suffered the biggest drop in eight months as worries about the weak jobs, housing and stock markets rattled them again. The decline comes after a few months of optimism amid some positive economic news.
The Conference Board, a private research group, said on Tuesday that its Consumer Confidence Index now stands at 64.9, down from a revised 68.7 in April. With gas prices falling, Americans were expected to push the measure to 70, according to analysts polled by FactSet.
But the May figure, which represents the biggest drop since October 2011 when the measure fell about 6 points, shows that consumers need more encouraging economic signs before their concerns start to dissipate. Americans remain worried about slow hiring, declining home values, big drops in the stock market and a worsening European economy that they fear will negatively impact the U.S.
"Consumers were less positive about current business and labor market conditions, and they were more pessimistic about the short-term outlook," said Lynn Franco, director of economic indicators at The Conference Board.
Consumer confidence is widely watched because consumer spending accounts for 70 percent of economic activity. May's figure is significantly below the 90 reading that indicates a healthy economy. The measure hasn't been near that level since December 2007. But the latest reading is still well above the 40 figure reached last October and the all-time low of 25.3 in February 2009.
The consumer confidence measure has zigzagged so far this year, dropping in January, rising in February and holding nearly steady after that. Analysts were hoping a slight rise in May would give some credence to the idea that the economy is stabilizing.
Instead, the data, which was based on a survey conducted from May 1 through May 16 with about 500 randomly selected people nationwide, suggests that "the pace of economic growth in the months ahead may moderate," said Franco, with The Conference Board...
Hers a clue.
Yes the economy wavers.
Your joy seems to waver in the direction that shows harm for the American people.
Be proud be very proud
Hers a clue.
Yes the economy wavers.
Your joy seems to waver in the direction that shows harm for the American people.
Be proud be very proud
Party over country at every turn for the scum like you.Party over country at every turn for the scum like you.
Hers a clue.
Yes the economy wavers.
Your joy seems to waver in the direction that shows harm for the American people.
Be proud be very proud
Here's a fact - the economy isn't 'wavering', it's tanking. And it is unlikely to see any significant improvement for quite some time.... and that has jack shit to do with either the Democrats or the Republicans. It has a lot to do with the global economic situation. All our major markets are in recession... and that has jack shit to do with their political systems either. I appreciate that these simple facts are far above your intellectual pay grade.
Hers a clue.
Yes the economy wavers.
Your joy seems to waver in the direction that shows harm for the American people.
Be proud be very proud
Here's a fact - the economy isn't 'wavering', it's tanking. And it is unlikely to see any significant improvement for quite some time.... and that has jack shit to do with either the Democrats or the Republicans. It has a lot to do with the global economic situation. All our major markets are in recession... and that has jack shit to do with their political systems either. I appreciate that these simple facts are far above your intellectual pay grade.
Dearheart you precious Bush created this problem so his buddies could make money
Hers a clue.
Yes the economy wavers.
Your joy seems to waver in the direction that shows harm for the American people.
Be proud be very proud
Here's a fact - the economy isn't 'wavering', it's tanking. And it is unlikely to see any significant improvement for quite some time.... and that has jack shit to do with either the Democrats or the Republicans. It has a lot to do with the global economic situation. All our major markets are in recession... and that has jack shit to do with their political systems either. I appreciate that these simple facts are far above your intellectual pay grade.
Dearheart you precious Bush created this problem so his buddies could make money
Consumer/buissness confindence also collpased when the GOP held the debt limit hostage
