That's A MAJOR Surge In Consumer Confidence

TBI ^ | 9-25-2012 | Joe Weisenthal

[blam]

That's A MAJOR Surge In Consumer Confidence

Joe Weisenthal
September 25, 2012

Consumer confidence surged from 61.3 last month to 70.3 this month.

That's well ahead of estimates of 63.1.

Needless to say this has all kinds of ramifications, if it holds up.

The significance is both political and economic if the consumer is feeling better.

Here's the full announcement from the Conference Board...

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he Conference Board Consumer Confidence Index®, which had declined in August, improved in September. The Index now stands at 70.3 (1985=100), up from 61.3 in August. The Expectations Index increased to 83.7 from 71.1. The Present Situation Index rose to 50.2 from 46.5 last month.

The monthly Consumer Confidence Survey®, based on a probability-design random sample, is conducted for The Conference Board by Nielsen, a leading global provider of information and analytics around what consumers buy and watch. The cutoff date for the preliminary results was September 13.

Says Lynn Franco, Director of Economic Indicators at The Conference Board: “The Consumer Confidence Index rebounded in September and is back to levels seen earlier this year (71.6 in February 2012). Consumers were more positive in their assessment of current conditions, in particular the job market, and considerably more optimistic about the short-term outlook for business conditions, employment and their financial situation. Despite continuing economic uncertainty, consumers are slightly more optimistic than they have been in several months.”

Consumers’ appraisal of present-day conditions improved in September. Those claiming business conditions are “good” edged up to 15.5 percent from 15.3 percent, while those saying business conditions are “bad” declined to 33.3 percent from 34.3 percent. Consumers’ assessment of the labor market was also more upbeat. Those stating jobs are “plentiful” rose to 8.3 percent from 7.2 percent, while those claiming jobs are “hard to get”

(snip)

[Buckeye McFrog]

Apparently they do not use my methodology (which involves walking around the malls and counting the vacancies)

[GoldenPup]

That's A MAJOR Surge In Consumer Confidence

PATENT BULLSHIT from the "yellow-stream" media, as usual.

[TYVets]

The Consumer Confidence Survey poll numbers will be revised dramatically downward on November 7, 2012

[Longbow1969]

Obama and his media supporters have been pushing the idea that things are getting better to help his re-election. This is simply the liberal/Democrat half of the electorate responding and being more confident. The poll isn’t wrong, it is simply measuring people on the left responding to Obama’s campaign message. Not a surprise, Obama is very effective at this for short periods of time when he needs to be.

[markman46]

went through this last yr, just back to school/college shopping is all will go back to flat next month.

[goodnesswins]

what’s the significance of that date?

[2001convSVT]

Ben Bernanke QE3 bounce?

[Vaduz]

Consumer confidence surged from 61.3 last month to 70.3 this month.
1.Back to school products
2.Building supplies for storm damage
3.

[jonno]

...predicting a change...

This was my first thought...

[blam]

"what’s the significance of that date?"

Isn't that the Mayan calendar 'end of the world' date?

[tanknetter]

There are also the stories about major planned hiring in advance of the holidays (so mainly temp/seasonal jobs) such as the one this morning about Toys R Us starting to hire 50,000 workers.

The story on TRU also played up how last year 15k temps were converted to perm employees. The Sept jobs numbers are going to play a huge role in the election... We’ll see what happens.