U.S. consumer sentiment highest since late 2000

[RUexperienced]

http://biz.yahoo.com/rf/040116/economy_consumers_sentiment_6.html

Friday January 16, 10:47 am ET
By Eric Burroughs


(Adds details)
NEW YORK, Jan 16 (Reuters) - U.S. consumer sentiment enjoyed its biggest one-month jump in more than 11 years in early January, signaling that the economy was likely at a turning point that would lead to better hiring.

The University of Michigan's preliminary reading of consumer sentiment rose to 103.2, the highest since November 2000, before the recession hit three years ago and the economy suffered through a sluggish rebound.

January's reading, up more than 10 points from December's 92.6 level, was the biggest one-month increase since late 1992 and easily surpassed economists' forecasts for a rise to 94.0.

"It's a sign, if anything, that perhaps the labor market improved dramatically in the first couple of weeks of January versus December," said Ian Morris, chief economist at HSBC Securities USA in New York.

The confidence data helped ease worries that the labor market's slow recovery might undermine consumer spending, which makes up two-thirds of economic activity in the United States.

Consumers' hearty spending over the past few years, helped by tax cuts and low interest rates, has helped keep the economy from suffering a sharper downturn.

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[Sir_Shrek]

1. Good news...

...though I've never been much a believer in "consumer sentiment" since I really started learning aout politics. There's important stuff there, but ultimately it may not really be indicative of what the economy is doing. I do respect its power to serve as a radar ping to manufacturers, investors and the like though. I could see it as a corroborating piece of information in a larger pool of data in those cases.

[w4rma]

3. I agree. (n/t)

[XNASA]

2. Fantastic! Just think how much better it would be.............

If more than just 1,000 jobs were added, instead of the 100,000 that were expected. That number would go through the roof!!!

Or maybe if there wasn't a record deficit, then the "preliminary reading of consumer sentiment" number would really be up there. Man, that would be great.

Then all we would have to do, is figure out how to turn that "number" into money, food and medicine. You know, so we can pay down the debt that our children will have to shoulder.

We'd all have it made. And life would be wonderful. What a blessing.

I just can't wait for all this to happen.

:eyes:

[DiverDave]

4. They didn't ask me

I barely have enough to pay the bills, cannot find full time work, so I take whatever I can.
Contract work, a few weeks on a couple off.
If my wife wasn't working and able to provide the kids with insurance, well I don't know.
Consumer sentiment?, I am no longer a consumer, I can't afford to be.

Another lie fron the junta.