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Consumers More Confident In February Than Initially Thought, UMichigan Finds

Tyler Durden's picture




 

Who cares about tumbling GDP: it is all about the confidence of Wall Street CEOs, pardon, consumers whose confidence that the winter weather would finally end , if not so much in the economy with over 91 million people out of the labor force, resulted in yet another beat in the data, sending the Final UMichigan print higher from 81.2 to 81.6 on expectations of an unchanged print. The internals were largely irrelvant, but in terms of current conditions, consumers were most confident since November, up from 94.0 to 95.4, while expectations about the future was at 72.8 the highest since August. Finally, 1 year inflation expectations dropped modestly from 3.3% to 3.2%: don't worry though - in the New Normal declining inflationary expectations is enough to send the S&P 500 to new all tinme highs.

 

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Fri, 02/28/2014 - 11:09 | 4488932 pound the vix
pound the vix's picture

Imagine where the s&P will be once the economy starts to improve

Fri, 02/28/2014 - 12:43 | 4489490 Boris Alatovkrap
Boris Alatovkrap's picture

Much pretty graph. Boris is confident, very confident... economy is near complete wholesale collapsing.

Fri, 02/28/2014 - 11:10 | 4488936 lordylord
lordylord's picture

Should be titled, "Consumers more clueless than initially thought."

Fri, 02/28/2014 - 11:12 | 4488946 unwashedmass
unwashedmass's picture

 or University of Michigan statisticans more easily bought off than we all thought. 

Fri, 02/28/2014 - 11:28 | 4489041 CoolBeans
CoolBeans's picture

Like their football players.

 

Fri, 02/28/2014 - 12:09 | 4489244 Rubbish
Rubbish's picture

I'm confident, I just got a raise. I'll be buying more Gold now.

 

Bitchez

Fri, 02/28/2014 - 12:43 | 4489488 TruthHunter
TruthHunter's picture

Next Headline?

Antidepressant Prescriptions Higher than Initially Thought"

Fri, 02/28/2014 - 11:13 | 4488954 grunk
grunk's picture

Blame the weather.

Collective brain freeze.

Fri, 02/28/2014 - 11:15 | 4488964 madbraz
madbraz's picture

UMich = reuters = banks

Fri, 02/28/2014 - 11:15 | 4488965 dcohen
dcohen's picture

Marc Faber is not on a roll, calling for tops since 1350ish on S&P

Fri, 02/28/2014 - 11:32 | 4489064 The_Ungrateful_Yid
The_Ungrateful_Yid's picture

Marc Faber doesn't understand Yellen Economics.

Fri, 02/28/2014 - 11:15 | 4488968 ejmoosa
ejmoosa's picture

May as well ask  one hundred kindergardeners will nap time be better tomorrow than today.

Fri, 02/28/2014 - 11:21 | 4488996 derek_vineyard
derek_vineyard's picture

theres nothing more that can be said about equity markets. 

Fri, 02/28/2014 - 11:23 | 4489000 Smegley Wanxalot
Smegley Wanxalot's picture

Here's how they conduct this survey:

 

Questioner) "Hi, are you feeling good about shit?"

Answerer) "You mean like about getting my dick sucked?"

Questioner) "Um yeah, that and other shit. Like buying and paying for shit"

Answerer) "Guess so, 'cause paying is how I get my dick sucked."

Questioner)"Great.  I'll put you down as feeling positive."

Fri, 02/28/2014 - 11:21 | 4489001 Jason T
Jason T's picture

Have to hand it to Armstrong for his October of 2015 forcast for US to finally turn down.  he's "winning"

 

we've got 18 more months to prepare folks.. 2016-2020 could be a shit fest

Fri, 02/28/2014 - 11:25 | 4489012 Save_America1st
Save_America1st's picture

S&P?  Hmmm...I thought you said S&W M&P and went out and bought a sweet 15-22 to plink with.  Oh well...who needs the S&P when we've got Au and Ag!

Fri, 02/28/2014 - 11:27 | 4489033 Son of Captain Nemo
Son of Captain Nemo's picture

So much for the praise and admiration I use to hold for that school.  Their Department o Economics has been religiously fudging the numbers for "money" for some time now on the reports they've been doing on consumer confidence for the Feds for several years now.

I guess we need to lump U.M. in with that other "Big 10" traitor of a school that sold out when they did that wonderful computer aided model for the Federal Government!

Fri, 02/28/2014 - 11:47 | 4489132 Rising Sun
Rising Sun's picture

Another fucking survey.....these markets don't care - up is the only option.

 

Even Europe got off the band wagon today.

 

Fucking shit show - fuck you YELLEN!!!

Fri, 02/28/2014 - 12:10 | 4489253 nakki
nakki's picture

Oh look another "revision" to a survey. Do these people call back and say "on second thought things are getting better"? How many people in this world get paid to make shit up? Oh that's right, must pretend their job has meaning and they deserve that paycheck.

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