Posted on 05/25/2010 7:18:46 AM PDT by blam
Consumer Confidence Way Higher Than Expected
Vincent Fernando, CFA
May 25, 2010, 10:00 AM
Consumer confidence came in at 63.3 vs. 58.3 expected.
Conference Board:
The Conference Board Consumer Confidence Index® increased in May, its third consecutive monthly gain. The Index now stands at 63.3 (1985=100), up from 57.7 in April. The Present Situation Index increased to 30.2 from 28.2. The Expectations Index improved to 85.3 from 77.4 last month.
Says Lynn Franco, Director of The Conference Board Consumer Research Center: "Consumer confidence posted its third consecutive monthly gain, and although still weak by historical levels, appears to be gaining some traction. Consumers’ apprehension about current business conditions and the job market continues to slowly dissipate. Consumers’ expectations, on the other hand, have increased sharply over the past three months, propelling the Expectations Index to pre-recession levels (August 2007, 89.2). The improvement has been fueled primarily by growing optimism about business and labor market conditions. Income expectations, however, remain downbeat."
Here are the markets after the release, slightly higher:
[snip]
(Excerpt) Read more at businessinsider.com ...
The DOW is disconnected from reality. Whatever it’s doing, I don’t view it as a big part of my day to day. One thing I do know is that my business is doing very well, much better than last year. My wife is doing well. I don’t mind if the DOW tanks again, just another buying opportunity.
LOL...the government must have polled the poor souls standing in line to buy lottery tickets....
I don’t believe this at all.
It has been trying to tank but the PPT keeps propping it up.
Guy jumps off the Empire State building. Passing an open third floor window, another guy hears him saying “so far so good!”
The numbers are not good. Housing inventory is up the Obama
tax credit is over. Unemployment is up. With the increase in taxes less than 7 months off there won’t be a big econ rally.
I would like to be more confident but with Zer0 at the controls...
Who’s going to make any big changes with the election coming up? I tell you what, if the pubs win big the economy will probably take off. It may run into a brick wall due osama’s meddling, but if he gets some real opposition it will take off.
WAKE UP, PEOPLE! PREPARE FOR WHAT'S COMING!
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