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

Jan. consumer confidence higher than expected

UPDATED at 12:15 p.m.:

January consumer sentiment came in higher than forecasters expected, signaling a brighter mood in the marketplace.

The consumer confidence index number for this month finished at 74.4, up from the 73 number forecasters expected and the 72.8 from last month, according to the Reuters/University of Michigan survey.

Coupled with the better-than-expected fourth-quarter GDP number out this morning, the consumer confidence number will be welcomed by embattled Democrats fighting off a suddenly energized Republican Party.

As I always write, the consumer confidence index is broken down into two components: the present situation index -- how consumers feel about the economy and their place in it right now -- and the expectations index -- how folks think the economy will be six months from now.

The January present situation index rose from 78 in December to 81.1 in January.

The expectations index rose from 68.9 in December to 70.1 in January.

Typically, consumers are more optimistic about the future than their current situation, so the January numbers are a little troubling, given that 70 percent of U.S. GDP is based on consumer spending.

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By Frank Ahrens  |  January 29, 2010; 12:15 PM ET
Categories:  The Ticker  | Tags: GDP, consumer confidence  
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Next: Smart advice for tough economic times: Haggle

Comments

We have a lot of good economic news today, I'm not sure the repubs can handle the facts, not myths and lies.

Posted by: shipfreakbo214 | January 29, 2010 10:22 AM | Report abuse

Great news! Wonder why the wingnuts are so quiet...?

Posted by: fotw | January 29, 2010 10:32 AM | Report abuse

Please continue to report the good news!

Posted by: readerl | January 29, 2010 11:03 AM | Report abuse

Great news! Wonder why the wingnuts are so quiet...?

Posted by: fotw | January 29, 2010 10:32 AM

=============

They're waiting to get the e-mail telling them whether to say Reuters and the University of Michigan are communists or socialists.

Posted by: James10 | January 29, 2010 11:13 AM | Report abuse

November is going to be a bad outcome for the GOP and it's tea party. You would think the tea party would come out happy that the economy is getting better but the news just shows there real hand.

Posted by: rbraun2000 | January 29, 2010 11:17 AM | Report abuse

The LAST thing the Republicans want is the economy to improve. Suck it up and admit it Right Wingers. GDP jumped more than it has in six years. The economy is mending but it will be slow and painful. The Tea-baggers and the Neo-cons are the people that created this mess. Nobody with a brain cell can expect anyone including Jesus H Christ to repair the damage they did in a single year.

Be that as it may, the Right does NOT want recovery, does NOT want more jobs, does NOT want a healthy economy. They are the party of "NO" because they want Obama to fail even if it drags the entire country down.

Why? So Americans will vote for the next Republican snake oil ticket that will once again offer trickle down economics and slashed regulations. The Republicans are banking on the sheer stupidity of the American people and a very short memory.

Posted by: Richard18 | January 29, 2010 11:24 AM | Report abuse

It is awfully quiet in here. The Republicans are probably meeting behind closed doors to figure out how to spin this as "bad news" for the U.S.

Posted by: chi-town | January 29, 2010 1:02 PM | Report abuse

It is pretty clear that Preppers are gearing up.
One year stock up for the shoved depression is the recommended minimums.

Posted by: dottydo | January 29, 2010 1:17 PM | Report abuse

The comments to this entry are closed.

 
 
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