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Title: U.S. Consumer Sentiment Jumps To 5-Month High In November
Source:
RTT
URL Source: http://www.rttnews.com/Content/ForexTopStory.aspx?Id=1489560&SM=1
Published: Nov 24, 2010
Author: RTT
Post Date: 2010-11-24 11:11:59 by Brian S
Keywords: None
Views: 2100
Comments: 2
(RTTNews) - Reuters and the University of Michigan released their final report on consumer sentiment in the month of November on Wednesday, showing a substantial upward revision to their consumer sentiment index for the month. The report showed that the consumer sentiment index for November was upwardly revised to a reading of 71.6 from the preliminary estimate of 69.3. The upward revision came as a surprise to economists, who had expected the index to be unrevised. With the upward revision, the reading on consumer sentiment for November is well above the October reading of 67.7. The index is also at its highest level since coming at 76.0 in June. Consumers' assessment of current economic conditions showed a notable improvement, with the current conditions index rising to 82.1 in November from 76.6 in October. The index was also upwardly revised from the preliminary estimate of 79.7. The index of consumer expectations also rose to 64.8 in November from 61.9 in October, representing an upward revision from the preliminary estimate of 62.7. However, Richard Curtin, the survey's director, said, "It is clearly too early to declare the November uptick in consumer confidence a turning point." "While consumers clearly believe that the recovery has gained some traction, most still think that the economic gains will be too small to improve their own job and income position anytime soon," he added.
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#1. To: Brian S (#0)
So the Self Referential Index rises. Because the Stock Market rises. As the 29th Consecutive Month of Outflows occurs and Home Prices drop the most ever.
IOW, FAIL!
#2. To: Brian S (#0)
"While consumers clearly believe that the recovery has gained some traction, most still think that the economic gains will be too small to improve their own job and income position anytime soon," he added
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