Consumer mood hits 8-month high in September: survey

Reuters via Yahoo ^ | Friday September 12, 10:30 am ET | Steven C. Johnson

[sf4dubya]

NEW YORK (Reuters) - Consumer confidence soared unexpectedly to an eight-month high in September as lower fuel prices soothed inflation fears and made Americans more hopeful about the economy, a survey showed on Friday.

The Reuters/University of Michigan Surveys of Consumers said its preliminary index of confidence jumped to 73.1 in September, the highest since January, from 63.0 in August, for the biggest monthly jump since January 2004.

September's reading was well above economists' median expectation of 64.0, according to a Reuters poll.

The sunnier mood can be traced mostly to lower prices at the gas pump and consumers' one-year inflation expectations plunged to 3.6 percent, matching February's low, from 4.8 percent last month, according to the survey.

....

While expectations have brightened, U.S. households remain defensive when it comes to spending, and the report said nine in 10 consumers think the economy is in recession.

[Larry381]

.....Obama must be wishing about now he was in that cardboard hut with his brother in Kenya.

[unkus]

If Obama wins, look for consumer confidence to hit bottom.

[impeachedrapist]

Consumer mood hits 8-month high in September: survey

What?!?! Don't these idiotic respondents know we're in a recession? Seriously! I've heard it from several national politicians.

Gosh, I can't seem to recall which party these recession hounds belonged to. Hmmmm. I'm sure it will come to me eventually. Perhaps while I'm waiting in the bread line.

[KarlInOhio]

But at the 'Rat Convention in Denver we were told that this was the worst economy in 75 years. Yep, worse than the second half of the Great Depression, worse than the oil embargo of the 1970s, worst than Carter's dance with hyperinflation and the recession needed to kill inflation under Reagan.

[lonestar67]

What is wrong with people?

Don’t you know, you neeeed Obama!

[expat_panama]

 

Consumer sentiment soaring, inflation plummeting, if it's not one thing it's another...

[landerwy]

I think it could be the Palin effect!

[ex-snook]

Consumers must be different from investors.

[Mase]

Consumer sentiment soaring, inflation plummeting, if it's not one thing it's another...

Inversely related to Obama's poll numbers. Hmmmmm....

[Mashood]

You’re absolutely right. People are feeling more confident now that there is someone to vote FOR!

[groanup]

Thx for the ping.

Don't forget:

The dollar is rising, gold, oil and other commodities are falling and the polls are favoring McCain/Palin.