US consumer confidence improves

[alp227]

Source: Financial Times

Consumer confidence jumped to its highest level in more than a year, bouncing more than 15 points in November in spite of the latest housing data showing that the gloom in that sector remains.

The Conference Board’s index of consumer confidence rose to 56 in November, up from a revised reading on 40.9 for October.

“Consumers’ assessment of current conditions finally improved, after six months of steady declines. Consumers’ apprehension regarding the short-term outlook for business conditions, jobs and income prospects eased considerably,” said Lynn Franco, Director of The Conference Board Consumer Research Center.

Despite the increase, confidence levels still remain lower than they were earlier this year. Economists also cautioned that consumer confidence measures gauge sentiment at the moment, but do not necessarily translate into significant purchases or retail spending.

Read more: http://www.ft.com/cms/s/0/501257e0-1a95-11e1-ae14-00144feabdc0.html?ftcamp=rss#axzz1f7Tz6hzQ

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[DCKit]

1. Because they told us that consumer spending (on Black Friday) was up 16%?

Just wondering.

[russspeakeasy]

2. Is Cain's book selling that well ?

Dear Lynn Franko, How much were you paid for this survey ? I'm guessing you stood in one of the lines on "Sucker Friday" and said "geez, looks like there are about 16% more suckers than there were 6 months ago, therefore....".

[d_legendary1]

3. People were buying cheap crap.

I was there. I bought a 250 gig X-box for $200. Think I'd spend that money if it was $300?

[jwirr]

4. Cheap things and things they have needed and put off buying.

[fasttense]

5. This happened under the bushes and under Obama.

Everyone from sports announcers (yes sports announcers here in the red, red state of TN) to economist and especially government officials and their statistics all say that retail shopping is up, up, up. They say this X-mas shopping season is the best ever. Consumers are all back and retail shopping is just great. Then after New Years, we are suddenly told that the numbers are really bad.

It has happened the last 3 X-mases that I remember.

I'm tired of being lied to. I'm tired of being told we are NOT in the 2nd RepubliCON Great Depression when we all know we are. I'm tired of being told everything is fine when I see my neighbors (RepubliCONS all) getting poorer and poorer every day. When I see the retail outlets have less and less worth shopping for, aside from basics, even Wally World. I'm tired of the manipulation, cons, manufactured crises and propaganda everywhere.

I just want to yell "stop and look around someplace besides Wall Street and DC." Things are NOT getting better and they are not going to get better. Things are going to get a whole lot worse. Life is going to get harder and harder for very little reward. And the political and economic elites don't give a flying F*ck about it.

[Itchinjim]

6. I forget, is it doom first or gloom first?

I want to fit in here at DU so it's important for me to know when I poop all over good economic news. Come on on gloomers and doomers or doomers and gloomers help me out!