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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Consumer Confidence Surges In August

One of two consumer confidence surveys due out this week was released moments ago and the first one showed that confidence jumped from July to August.

According to the Conference Board, the private economic research organization, its consumer confidence index jumped from 47.4 in July to 54.1 in August, hitting its highest level since December 2007.

The survey talks to 5,000 households, which is significantly more than the Reuters/University of Michigan consumer confidence survey, which is due out Friday.

-- Frank Ahrens
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By Frank Ahrens  |  August 25, 2009; 10:01 AM ET
Categories:  The Ticker  | Tags: consumer confidence  
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Next: Conflicting Home Price Data: What Do They Mean?


You gotta take a stab at it.
Technology keeps advancing along with love. Useful things are hopeful. Hopeful things are profitable, so the problem is what to do with all that money you are going to make. Buy a boat? Keep your steel sharp.

Posted by: Dermitt | August 25, 2009 10:25 AM | Report abuse

For the most part, Americans are hopeful, have been hopeful and will remain hopeful.

Obama's metaphor of trying to turn a huge ocean liner, headed in the wrong direction, is still solid. The tremendous chaotic momentum of previous bad policies will not be easy to correct.

The Canadian Prime Minister had it right. Had agressive, bold action not been taken, we could easily be sinking into a 1930's catastrophe. We can continue to make the corrections and get through this - but disaster has been averted.

Posted by: jeannine1 | August 25, 2009 10:48 AM | Report abuse

That should have been Australian Prime Minister (not Canadian) who declared that the stimulus saved us from a 1930's type disaster.

Posted by: jeannine1 | August 25, 2009 10:51 AM | Report abuse

Oh, please, a survey of 5000 people isn't that convincing that consumers are going to spend again. Look around you at all of the dead commerical real estate.

Foreclosures are ongoing and unemployment is rising.

70% of the US economy is consumer driven and they aren't spending and probably never will again at pre-recession levels. It'a a generational attitudinal change.

Obama's policies are killing the middle class in this country. They also are a small business killer. But, perhaps that was his socialist game plan.

Posted by: onecent100 | August 25, 2009 12:54 PM | Report abuse

Yes, let's revive the middle class, the overborrowing, overspending, overconsuming imbeciles who fueled this mess.

Remember everyone: the current crisis has nothing to do with the fact that you bought more than you could afford, borrowed against your home equity to purchase luxury items that only lost value, and greatly overestimated your ability to pay your bills in the future.

It has everything to do with Obama, socialists, and Wall Street fatcats.

Nothing will improve until average Americans accept the fact that they could have and should have seen much of this coming. Blaming other people might make you feel better, but it won't make it 2005 all over again.

Posted by: bryc3 | August 25, 2009 1:12 PM | Report abuse

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