Consumers Love Higher Gas Prices: UMich Confidence Rises To 2nd Highest In 8 Years

Having fallen for the last two months, with stock prices back near record highs, many expected an exuberant bounce in UMich Consumer Sentiment and were not disappointed. In the face of rising gas prices, Consumers were loving it - UMich printed 95.9, beating expectations of 94.0 by the most since August, for the 2nd most exuberance since 2007. Current and futures expectations rose notably as consumers believe now is a good time buy a home, vehicle, ore major appliance more than ever.

Confidence rebounds in April...

After an exuberant run up as gas prices dropped, Consumer Sentiment has now dropped as prices move back higher... (it seemed Gas prices trumped stock prices for 'confidence'... until this month)

Charts: Bloomberg

Comments

[LawsofPhysics]

Talking about prices in the absence of price discovery...

LMFAO!!!

[Stained Class]

"How confident are you that the Federal Reserve can keep rates low so your country can continue $Trillion dollar deficits for the rest of your life?"

[847328_3527]

' Since Lehman? '

[NoVa]

Since Lehman ^tm 

there - said it.

[A Nanny Moose]

That'll be $10 for having used our copyrighted material - RIAA/MPAA/Monstanto

[q99x2]

Michigan. Ain't that where Detroit is? Who they asken Zombies.

[BlowsAgainstthe...]

Sentiment over time moves as a function of real average wages per worker . . .

http://research.stlouisfed.org/fred2/graph/?g=187j

[Never One Roach]

I feel alot moar konfident with higher gas prices. Now I can drive back and forth to Jack 'n Da Box and KFC frivilously eating some major fat groups followed by a geazy glazed Krispy Kream for dessert.

[Bryan]

The investing public sheep are as stupid and malinformed as ever, I see.  We are doomed.

[Arnold]

Large moves are AI / algo created, on behalf of large institutional investors.

Very few housewives are moving the market.

Most  equity contact that people have is pension and retirement funds, which are out of their direct control in the first place.

Calling them sheep is common, but uninvolved with their future is more accurate.

[Bill of Rights]

This headline comes up with every market pull back. It is Kevin Bacon yelling remain calm in "Animal House" (before being trampled).

[Loucleve]

It is totally and completely INVALID.

I called UMich.

The "national survey" is based on 500 families.

500 families.  They obviously exclude any of the 92 million dropped out of the labor force.

[nakki]

I would bet a majority of the households surveyed have a zip code starting with 0, 1, 2 and 9.

[Mr. Magoo]

Only if your part of the .000001% and getting free fed money

[cashtoash]

is the confidence seasonally adjusted? 

[MFL8240]

Utter bullshit!

[Bumbu Sauce]

Opinion making

[Element 26]

All statistics out of the State of Michigan are shameless lies.  Latest example, count of employed workers and unemployment rate:

http://rightmi.com/michigans-february-unemployment-rate-redux/

Michigan's payroll withholding remittances are actually declining MoM and YoY.

[madbraz]

the only thing UMich "interviews" is the algo-landlords who own them.

[Yen Cross]

 lol, Yeah right...Consumer credit was in the shitter last time I looked, and the most recent auto sales numbers missed as well.

 BTFMUE = Buy The Fucking Made UP Euphoria...

[silverer]

Now if they had just listened to Obama and put the price of gas at $8.00 a gallon in the first place...

[Kprime]

Bankruptcy is a confidence builder.

[Dazman]

The higher the better. Further to drop.