Consumer Confidence Rises in Early September
U.S. consumers felt a little more optimistic about the economy in early September, as they watched the pace of job cuts slow.
The Reuters/University of Michigan consumer sentiment index for early September released this morning rose to 70.2 from 65.7 in August, beating forecasts of 67.5.
The survey is based on only about 500 households.
The index is broken down into two parts: consumers' current financial situation and their expectations for the next six months.
Current situation sentiment rose from 66.6 in August to 71.8 in early September.
The expectations index rose from 65 in August to 69.2 in early September.
-- Frank Ahrens
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By
Frank Ahrens
|
September 11, 2009; 11:14 AM ET
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| Tags: consumer confidence
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Posted by: Dermitt | September 11, 2009 12:44 PM | Report abuse
When one polishes a tird it remains a tird. 500 households?
Posted by: Bubbette1 | September 11, 2009 1:44 PM | Report abuse
This is extremely significant because I think that people’s attitudes are the thing that needs to change first for us to get out of this recession. People need to feel confident that things are going to improve, and thus start taking what can be amounted to “financial chances” that will help spur our economy out of this hole. People need to have confidence in the stock market so that they start investing. People need to regain confidence in the housing market so that they aren’t scared to buy a home. These are the types of attitudes that will cause things to get better.
Its not going to be an instant thing, but I'm glad for some good news finally that we're headed in the right direction. Once confidence gets up than that seed will be planted in the mind about thinking about going out and spending some money. From there the natural course of action will ensue.
Check out my blog on the surprising rise in consumer sentiment at.... http://www.thedebtgazette.com/2009/09/consumer-sentiment-rise/
Posted by: FrankFitton | September 11, 2009 1:58 PM | Report abuse
Dermitt, as long as those 500 households were selected randomly, it remains a valid and statistically correct poll.
Posted by: crzytwnman | September 11, 2009 2:27 PM | Report abuse
You need a restless hammer and find a nail. Other times you need a restless shovel and lots of hole need dug. For 500 you need a backhoe. You gotta keep burying people. 100% die and that number can't be increased.
Posted by: Dermitt | September 11, 2009 4:01 PM | Report abuse
Holes. That's where an editor is needed.
Posted by: Dermitt | September 11, 2009 4:04 PM | Report abuse
Any bounty hunter knows that 500 dollars can get your head blowed off. I need some whisky.
Posted by: Dermitt | September 11, 2009 4:06 PM | Report abuse
People vote with their dollars, and they are not spending. Ergo, your "Consumer Sentiment Index" is BS.
Posted by: penniless_taxpayer | September 11, 2009 6:33 PM | Report abuse
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Confidence in the Post looks up today. The month is early. Ripe and ripe.