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Consumer Confidence Spikes Near 8-Year High Amid Global Turmoil But "Hope" Fades
For the second month in a row, US Consumer Confidence (according to The Conference Board) soared in September. Printing 103.00 (smashing expectations of 96.8) in September, this is just shy of January's high going back to August 2007. The biggest driver of this seemingly odd exuberance (amid global escalation in financial and physical wars) is the Present Situation (up from 115.8 to 121.1) while "hope" dropped from 91.6 to 91.0.
As The Conference Board explains...
“Consumer confidence increased moderately in September, following August’s sharp rebound,” said Lynn Franco, Director of Economic Indicators at The Conference Board. “Consumers’ more positive assessment of current conditions fueled this month’s increase, and drove the Present Situation Index to an 8-year high (Sept. 2007, Index=121.2). Consumers’ expectations for the short-term outlook, however, remained relatively flat, although there was a modest improvement in income expectations. Thus, while consumers view current economic conditions more favorably, they do not foresee growth accelerating in the months ahead.”
Consumers’ appraisal of current conditions was more positive in September. Those saying business conditions are “good” increased from 23.7 percent to 28.0 percent, while those claiming business conditions are “bad” declined modestly from 17.8 percent to 16.7 percent. Consumers were somewhat mixed about the job market. Those stating jobs are “plentiful” increased from 22.1 percent to 25.1 percent, however those claiming jobs are “hard to get” also rose from 21.7 percent to 24.3 percent.
Charts: Bloomberg
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I put it down to brainwashing by the MSM.
Demand has collapsed. Not sure how they work that fact into the "Consumer Confidence" calculations?
Not sure how they work that fact into the "Consumer Confidence" calculations?
It's easy to get the right result when Mark Dice does the survey. ;)
Euthanize him. Next liar, please step up.
Was thst seasonally adjusted?
How can this be?
Unless they only read all the headlines on Yahoo news which are so out of touch with reality.
As a Consumer I am highly confident. Confident that the Fed and its bankster owners have boxed themselves into a corner and sold our economic soul for a few sheckels.
LOL! What a Bunch of Horse Shit.. are people REALLY That Fucking Stupid?
Football season has started so everyone is happy again. Whoop whoop whho....
Consumers are sheep, confident that the shepherd will watch out for them, oblivious to the concept of mutton.
By the way, if you find yourself in Western Colorado, try the local lamb at 626 on Rood. The chef has it figured out.
At least it is cheap. And you get fresh radiation from Hawaii
If you are in Western Colorado, figure out a way to stay there until this blows over. Say 25 years.
It's not called a "con" for nothing.
Makes exactly as much sense as Obama's approval rating
So I wonder what consumer confidence is in Caterpiller country, Peoria, Illinois?
I live in Central Illinois, most of the year to be around the Grandchitlens. Grew up here, CAT had been generational 'automatic' careers (100% benefit coverage, pensions etc.), for local highschool grads for the last 60 years. The street here seems to b saying, it's just another typical company corrective move to make the future, even brighter.....
Was the survey taken at the local Mercedes and Porsche dealerships?
Who the hell are they interviewing to get these survey results?
Not just this one, ALL of them...
Methinks the poll was a randonly selected poll - Taken in the Hamptons.
When you have a large number of people working for the government at local and national level there's bound to be a disconnect between them and the real world outside.
As a consumer, I'm highly confident that I will never take out another mortgage, or have a car loan, or buy a gadzillion inch flatscreen. It's called living within my means. And my means is pretty mean.
Waste of an article waste of research!
Lies,lies,lies!
Someone's been drinking too much of the Popes left over water.
Holy smokes
I don't know anyone who is 'confident' in the future ... but lots of people must visit MYTHMAKING.GOV regularly ... 1984 is upon us.
For the second month in a row, US Consumer Confidence (according to The Conference Board) soared in September.
Says it all: Govt. numberrors !!
They should change their name to the "Confidence" Board. More appropriate and accurate.
Consumer confidence is UP
Hope is DOWN
Worthless report
Well, I guess the BTFD-ing will continue until morale improves.
I just want a *market* rout, not the end of civilization...alright, you got me - yes, I want to see that in my lifetime.
With all those unemployed oil patch workers....I cant believe this number...even the Planned Parenthood people have to be scared
What did Planned Parenthood ever do to you? Did someone there tell you that you had contracted the clap or something? Or perhaps one of their workers gave you the clap?
So much butt hurt over so little. Actually, over nothing, because that entire PP blow-up was just a lying scheme. Those people should be in jail.
I can't even watch this shit anymore. Hard data ingorned in favor of surveys.
One of the last 'lagging indicators' before the wide-spread layoffs ensue. It's already beginning around the periphery. The 'Rod of Gawd' comes when you see FB, TWTR, GOOG, NFLX & AAPL all announcing 'shifts in workforce' or some other euphemism for pink slips...
What a bunch of MANURE, Took my Dad to his Korean War reunion over the weekend. They are having them more frequently as they are losing members each year. As I have done this now 7 out of the last 8 years. I have become more familiar and thus able to talk finance and outlooks with them and their spouses. The ones that have been successful are sacred to death about what is going on. They are pulling money out of the markets and looking for a SAFE place to put their cash. They feel helpless and vulnerable as CD rates have been crap for years. Several have lost serious money in the Oil and Gas markets as well as some stocks. The sinking feeling of desperation is apparent as they fret over their net worth declining and how they will be able to protect their ass(ets). They are even selling blue chips like P&G and Pepsico even though they like the divvies.
While some have small amounts of PM's they have not been engaged in the market due to is moribund performance. I found stressing the "no counter party risk" as a credible discussion point. Having APMEX in OKC where several were from seemed to have some value. The reoccuring question was where do I put my money to be safe..... As far as all the black swans in the eCONomy they are somewhat aware but the word derivatives might as well be a foreign language as no one has a clue of the potential to bring down the system. The thought that the USD could take a big hit due to its debt and loss of the Reserve Currency status is not well understood either.
Along with the stories (even though I have heard most of them) one of the best things about the get togethers is no EFFING SMART PHONES as an artificial limb that must be constantly managed. My lord it is so refreshing to not constantly see one of those god forsaken things for a day or two. The other was the aversion to Debt.....if you can't afford it you do without...
Back to this silly absurd report.....The MORONS running the show are underestimating that the citizens are on to their BS....that they continue to lie to the extremes is now creating more fear and anxiety as more and more people are wondering why the truth is not available.....
Of course C.C. is up,when the only things you have to buy with your own money (weed,booze,gas) are all going down,and everything the goobermint buys for you (food,healthcare,housing assistance) are all going up..
Present situation is at 121 ... got my new iPhone; can't get much better than that
No one except Obama suporters will believe this bullshit!
Overall I'm not seeing it. People don't have that much money to spread around.
don't you get it...YOU DON'T COUNT. Are you a public union worker? Are you a crony of the Democrats? Are you a crook from Chicago? Do you work for a mega bank located in NY? Do you work in silicon valley at some liberal oriented software scam? Do you work for a billionaire? Well then you wouldn't see it
Oh well, I got tired of all this shit and I moved to the tropics.
must be smoking hopium
This really isn't that hard.
Gas prices down. Confidence up.
http://www.bizjournals.com/houston/morning_call/2015/09/after-months-of-...
From the Consumer Confidence Survey's own website...
"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 17."
https://www.conference-board.org/data/consumerconfidence.cfm
S&P 500 on Sept 17th
Date Open High Low Close Volume
Sep 17, 2015 1,995.33 2,020.86 1,986.73 1,990.20 704,674,713