Consumer Confidence Hits 2-Month High (AP says Dims did it!)

AP/Yahoo! ^ | Friday November 17, 5:49 am ET | Jeannine Aversa, AP/DNC Economics Writer

[rightinthemiddle]

Consumer Confidence Hits 2-Month High on Outcome of Midterm Elections, Lower Gas Prices WASHINGTON (AP) -- Consumer confidence climbed to a two-month high as a good jobs climate, lower fuel bills and the outcome of the midterm elections brightened peoples' feelings about the economy and their own financial fortunes.

The RBC Cash Index, based on the results of the international polling firm Ipsos, showed that confidence clocked in at 92.4 in November. That was up from 83.1 in October and marked the best showing since September, when confidence shot up to 93.7, a seven-month high.

For the most part, the economy is in decent shape even as it feels the strain of the housing slump.

The nation's unemployment rate sank to a five-year low of 4.4 percent in October, the most recent figure available. And, as lower gasoline and other energy prices have helped to ease overall inflation pressures, workers' paychecks are getting a boost.

Economists said all these factors helped to cheer consumers in November, but they also believe that last week's elections played an important role. Voters, expressing their ire over the Iraq war, President Bush's leadership and a scandal-scarred Congress, put Democrats in charge on Capitol Hill. The new Congress convenes in January.

"People were clearly cheered by the outcome of the election and that affected consumer sentiment. It is not all economics," said Stuart Hoffman, chief economist at PNC Financial Services Group.

[rightinthemiddle]

AP/Aversa Alert!

Voters, expressing their ire over the Iraq war, President Bush's leadership and a scandal-scarred Congress, put Democrats in charge on Capitol Hill. The new Congress convenes in January.

"People were clearly cheered by the outcome of the election and that affected consumer sentiment. It is not all economics," ...

[poobear]

2 month high? The elections were 2 WEEKS ago!

Shoot me.

[zarf]

Frame this article; it's the pivot around which all future economics spin/reporting will turn.

Predicted on FR first!

[rightinthemiddle]

Are the voters as stupid as the AP thinks they are?

[ClearCase_guy]

Why, I tell ya, I was in the supermarket today, and I noticed that the price of eggs was the lowest it's been since Wednesday!! Those Dems are sure miracle workers.

[Brilliant]

It's on the GOP record.

Let's see if the Dems can do as well as the GOP did.

[roses of sharon]

Why, yes they are!

Propaganda works.

[rabidralph]

I was walking down the street and this dog got hit by a car. After about 30 seconds, the dog jumped up and ran away like nothing happened. Thank you, Nancy Pelosi!

[Dems_R_Losers]

Oh, for God's sake. Do these idiots in the media really believe this crap? Only 20% of the population actually voted in this election, and half of them are NOT happy with the outcome. I suppose 10 percent of the people being happy about the elections is enough to move the consumer confidence number. Yeah, and monkeys might fly out of my butt...

[rightinthemiddle]

Jeanine Aversa and all her friends are happier about it, so she goes out and finds a Democrat economist to back up how she "feels."

All the AP "economics/business" writers are LIbs. Crutsinger and Aversa are the worst.

Unfortunately, they answer to no one.

[bobsatwork]

It's breathtaking that this crap gets published. Consumer confidence is not-quite-as-high as two months ago, due to voter bliss over the elctions two weeks ago. Geez.

[The South Texan]

"People were clearly cheered by the outcome of the election and that affected consumer sentiment. It is not all economics," said Stuart Hoffman, chief economist at PNC Financial Services Group."

So the AP gets one Rat slanted economist at some unknown (I haven't heard of this group) and he proclaims it's because of the elections and now the AP is happy to say "Happy Days are here again." Never mind that not one Rat economic policy has yet to be implemented and hopefully not one ever will in the next two years (Mr President, use the VETO pen!)

Reminds me so much of 1992 when right after the election, the media had to start letting the cat out of the bag that the economy was not as bad as the "worst economy in fifty years" that they helped pimp with the Clintonistas to get them elected.

The MSM are sick, twisted twerps for a lack of a better way to put it.

[buck61]

We will just have to wait until next September to see what the index and the AP has to report.

I'm hoping the president has many veto pens available, and the ba*** to use them.

[syriacus]

I thought the dems were on record saying that the President is responsible for the economy, but at any rate...

Maybe folks are happy that the Fed won't be raising interest rates and the Stock Market broke 12,000.

[syriacus]

The MSM are sick, twisted twerps for a lack of a better way to put it.

They sure are.

[pookie18]

Are the voters as stupid as the AP thinks they are?

Yes, a little more than half of them...

[rightinthemiddle]

The AP has been POUNDING Bush and Republicans on the economy for years. I've posted many of the articles here on FR.

Now, it's all sunny and rosy, just because the Democrats control Congress...but not until January!

Democrats good for the economy? Never have been, never will be.

[rightinthemiddle]

"Consumer confidence climbed to a two-month high as a good jobs climate, lower fuel bills and the outcome of the midterm elections brightened peoples' feelings about the economy and their own financial fortunes."

______

Blatant editorializing. She had no real facts to back up the claim about the "outcome of the midterm elections."

[magellan]

Classic Drive-By Media spin.

These surveys generally are done monthly. I would be curious when the last data was gathered. I am sure it was before election day.

[ModelBreaker]

Frame this article; it's the pivot around which all future economics spin/reporting will turn.

Actually, it's probably true. The CCI is a vote. What this says is that R's respond, in general, to the poll by reacting to the actual economy, not how they feel about politics. My vote, for example, would not change from 2 months ago to today.

But lefties have been despondent for a while and vote for bad regardless what the economy is doing. Now that the nancy boys are in control, they feel good so they vote good.

Thus, I think there's some reality to the election effect spin on the story.