Posted on 08/28/2012 7:20:43 AM PDT by SeekAndFind
Consumer confidence missed big in August falling to 60.6. The reading is the lowest since November 2011. Meanwhile, July's reading was revised down to 65.4.
"Consumers were more apprehensive about business and employment prospects, but more optimistic about their financial prospects despite rising inflation expectations," according to Lynn Franco, Director of Economic Indicators at The Conference Board.
"Consumers' assessment of current conditions was virtually unchanged, suggesting no significant pickup or deterioration in the pace of growth."
But the number is still above 60, showing the report wasn't a complete disaster. Here are some highlights from the report:
The percent saying business conditions are "good" climbed to 15.2 percent, from 13.7 percent.
The percent saying business conditions are "bad" was unchanged at 34.4 percent.
The percent saying jobs are "plentiful" fell to 7 percent, from 7.8 percent.
The percent saying jobs are "hard to get" eased to 40.7 percent from 41 percent.
The percent of consumers expecting business conditions to improve over the next six months fell to 16.5 percent, from 19 percent.
The percent jobs to increase in the months ahead declined to 15.4 percent from 17.6 percent.
The percent expecting fewer jobs climbed to 23.4 percent from 20.6 percent.
(Excerpt) Read more at businessinsider.com ...
sarc/off
Yes, but, the Jeffry Bartash article on marketwatch.com helpfully pointed out that: “While consumers are less hopeful about the future, however, they said they’ve seen little deterioration in the economy, either.”
I think this is just reflecting a loss in confidence of Obama. How can anyone take President Kardashian seriously at this point? People are just losing hope he has any idea how to fix this mess.
While funeral goers acknowledged that Bob was dead, they also stated that he didn't look any more dead than he did at the wake.
All this... yet Obama leads by two (47%-45%) in today’s Rasmussen poll. Go figure.
You have interpreted this bizarrely-written and quoted article well - I would just add something on the order of “Bob was dead but he looked better than he had for years and his body temperature was above 60, so Bob’s personal situation was much better than the news of him being dead would have appeared to a casual reader at first glance”.
Which is why I think these polls are idiotic.
I can’t imagine many people out there who think this economy is on the right track. Most people who have been severely damaged by this administration.
And so the polls are accurate at 50/50? Nope. That just doesn’t compute to me.
Which is why I think these polls are idiotic.
I can’t imagine many people out there who think this economy is on the right track. Most people know people who have been severely damaged by this administration.
And so the polls are accurate at 50/50? Nope. That just doesn’t compute to me.
Let me see if I have this right: Consumer confidence has fallen to 60.6%, unemployment has been over 8% for 43 straight months, the national debt has risen 5 trillion in less than four years, gas prices have more than doubled in less than four years, and food and energy prices are rising, but according to the MSM Obama is still well-liked and popular?
One of two things will (obviously) happen this November: Obama will buck ALL the trends from the past 75 years and be re-elected, even while presiding over the worst economy since the great depression, OR all the trends from the past 75 years will continue and Obama will be shown the door. The MSM would have us believe it’s the former. I say Obama is toast.
It may also be the case that a lot of people have come to realize that even if Romney were to win, there’s nothing he’s going to do that will improve the economy. If Romney is elected, and once that sinks in, the markets will take another wild dip into the toilet.
Excellent!
Dow should be up 200 points today.
I agree. Romney is not behaving as a candidate who is losing. Obama, however, is acting desperate.. I think if the race were held today Romney wins 54-46, and he hasn’t even spent any of his campaign cash yet.
Normalcy bias
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