Posted on 07/31/2007 7:38:56 AM PDT by BenLurkin
NEW YORK (AP) -- American consumers -- shrugging off a struggling housing market as jobs remained plentiful -- became more confident in July and sent a gauge of sentiment to a six-year-high, a private research group said Tuesday.
The New York-based Conference Board said that its Consumer Confidence Index, rebounded to 112.6, its highest level since August 2001 when it recorded a 114.0 reading. That compared to a revised 105.3 in June. The July 24 cutoff for the preliminary survey of 5,000 U.S. households was before last week's stock market tumble, however.
"An improvement in business conditions and the job market has lifted consumers' spirits in July," said Lynn Franco, director of The Conference Board Consumer Research Center. "Looking ahead, consumers are more upbeat about short-term economic prospects, mainly the result of a decline in the number of pessimists, not an increase in the number of optimists. This rebound in confidence suggests economic activity may gather a little momentum in the coming months."
And a Republican has occupied the White House for...how many years now...hmmmmmm?
Hey, look!
Its Another Story Katie Couric, Charlie Gibson, and Brian William’s will NOT BE REPORTING tonight!
(chuckle)
It must be because they’re anticipating her royal thighness occupying the White House.
Yes. Of course!
Yet another reason for the Federal Reseve to whack the economy.
Bush’s fault!
I can not fathom a more useless statistic than Consumer Confidence. It is good for all the stock pimps on CNBC though.
Does that mean 6 years of lies, because I can’t think of a bigger BS story today than Inflation is in check and Consumer Confidence is at an all time high.
Must be Bush’s fault.
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