Consumer Confidence Up in February

Discussion in 'Current Events' started by Agent_286, Feb 28, 2012.

  1. Agent_286

    Agent_286 New Member

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    Consumer Confidence Up in February

    By Anne D'Innocenzo | AP Retail Writer | 02/28/2012

    Excerpts:

    NEW YORK (AP) – “A private research group says that consumer confidence in February rose dramatically from last month to the highest level since a year ago when the U.S. economy's outlook started to look brighter before souring again.

    The Conference Board's Consumer Confidence Index now stands at 70.8, up from a revised 61.5 in January, helped by consumers' improving assessment of the job market. Analysts had expected a reading of 63. The February reading marks the highest level since February 2011 when it was 72.0.

    The index, which is closely watched because consumer confidence makes up the majority of U.S. economic activity, is still far below the 90 that indicates a healthy economy. But it's closer to levels that indicate a steady economy than not. The index has risen slowly since hitting an all-time low of 25.3 in February of 2009. And in the past 12 months, it's jumped from the high 60s to the low 40s amid continued worries about the health of the U.S. economy.

    "Consumers are considerably less pessimistic about current business and labor market conditions that they were in January," said Lynn Franco, director of The Conference Board Consumer Research Center in a statement. "Despite further increases in gas prices, they are more optimistic about the short-term outlook for the economy, job prospects and their financial situation."

    One gauge of the Consumer Confidence Index, which measures how shoppers feel now about the economy, rose to 45.0 from 38.8. The other gauge, which measures shoppers' assessment over the next six months, jumped to 88.0 from 76.7 in January.

    According to the survey of consumers, conducted from Feb. 1 through Feb. 15, shoppers are optimistic about the job market. Those anticipating more jobs in the months ahead increased to 18.7 percent from 16.4 percent, while those anticipating fewer jobs declined to 16.9 percent from 19.1 percent.

    There are reasons for optimism. The government says 243,000 jobs were added in January, pushing down the unemployment rate to 8.3 percent, the lowest in three years. Unemployment has fallen five months in a row for the first time since 1994. Job figures for February are due out next week.

    Even the housing market, though still weak, is showing signs of recovery. Home values remain depressed, according to the latest snapshot from a widely followed Standard & Poor's/Case-Shiller home price index. But more people signed contracts to buy homes in January than in nearly two years, according to seasonally adjusted figures from The National Association of Realtors.

    But there also are reasons for caution. The European debt crisis threatens to hurt the U.S. economy. And rising gas prices could limit spending by middle- and lower-income shoppers. The average U.S. price of a gallon of gasoline rose 18 cents to $3.69 from two weeks earlier, according to the Lundberg Survey of fuel prices released Sunday.”

    read more:
    http://netscape.compuserve.com/news...story/1001/20120228/9266.htm&sc=+&floc=NW_1-T
    .....

    Ooops, the economy shows a steady climb out of the Bush induced depression and this ain’t good for the republicans, as they were planning on running for the presidency with a bad economy being their primary slogan. BWAAAAA...:fart:

    The continued optimism about the economy and the poor popularity of Congress going into the single digits, should freak out the republican dominated House because they have done nothing constructive for this country since 2010 and they are all up for re-election. BWAAAHAHA!!...:clap:

    The news is really good and there were over 243, 000 new jobs created in January and more still coming as we climb out of the deadly pit of the GWBush administration’s overspending in 2 wars, record breaking earmarks, Bush Tax Cuts for the wealthy, widespread corruption, massive outsourcing of jobs, and leaving us with a gigantic deficit as a new president was inaugurated.

    We have averted the Bush Depression, and are now recovering from a long painful recession and now all we need is a Congress working in unison to bring back prosperity to our nation through renewable sources of energy so that we can dump our addiciton to middleast oil which can sway any economy to do its bidding through price manipulation. If we had started the research in Carter’s adminis- tration, we would never have had to go through all this financial turmoil at the gas pumps that we now see as a regular societal hiccup on cue of the Big Oil Guys.
     
  2. Dutch

    Dutch Well-Known Member Past Donor

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    Feb. 28 (Bloomberg) -- Orders for U.S. durable goods fell in January by the most in three years, led by a slowdown in demand for commercial aircraft and business equipment.

    Bookings for goods meant to last at least three years slumped 4 percent, more than forecast, after a revised 3.2 percent gain the prior month, data from the Commerce Department showed today in Washington. Economists projected a 1 percent decline, according to the median forecast in a Bloomberg News survey.

    http://www.sfgate.com/cgi-bin/artic...28/bloomberg_articlesM03UU13T6SQO01-M03UU.DTL

    Hate to rain on your parade, but manufacturers do not share your optimism, if fact, they still think the economy is in the (*)(*)(*)(*)-house.
     
  3. Iriemon

    Iriemon Well-Known Member Past Donor

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    Data on durable goods can be volatile, and January's weakness followed strong gains in December and November. Some analysts said the weakness last month was likely due to one-time factors like the expiration of some tax breaks.

    http://www.reuters.com/article/2012/02/28/us-usa-economy-idUSTRE7BM0AB20120228

    Hate to bring sunshine on your cloudy day, but a durable goods order are volatile and a one month change doesn't mean a whole lot.
     
  4. Dutch

    Dutch Well-Known Member Past Donor

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    Obama's approval rating should be soaring with such a wonderful news... and it is not; in fact, it's near all-time low. hm... :sunnysideup:
     
  5. CoolWalker

    CoolWalker New Member

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    yeah, ask the fat lady coming out of the grocery store where she just gotten free samples of something deep fried about the economy and it will be great. Ask the guy buying clothes for 3 daughters (like me) about the economy on a Saturday afternoon after paying the bills and gassing up my car, and I will give you a much different answer.
     
  6. Cigar

    Cigar Well-Known Member Past Donor

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    Ooops ...

    As the Republican presidential candidates get ready for Super Tuesday, a new poll out shows President Barack Obama is making gains with one key voter group - women.

    Obama's standing with female voters is strengthening, polls show, as the economy improves and social issues, including birth control, become a bigger part of the national political discourse this election year, according to the Associated Press.

    http://www.globalpost.com/dispatch/...-poll-shows-obama-approval-rating-gaining-wom
     
  7. Agent_286

    Agent_286 New Member

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    .....

    from your own article:

    "The expiration at the end of 2011 of a tax incentive allowing full depreciation on equipment purchases may have prompted a slowdown in investment at the start of this year. At the same time, a strengthening auto industry may help keep factories at the forefront of the expansion that began in June 2009."

    In recent months, the major wildcard in new orders has been fluctuations in motor vehicles and aircraft," Steven Wood, president of Insight Economics LLC in Danville, California, said before the report. "Hard-good orders have been climbing, albeit irregularly, for the past two years..”
    .....

    We understand that your efforts to keep the economy down is a major criteria in getting either of two inferior republicans/T-baggers elected next November. Think something else because by November the economy will have grown tremendously and you will not be able to use it. That is why you have brought "women's issues" into the fray. It's a pity that it won't work anymore.

    So you guys have -0- to run on, and you did it to yourselves. The do-nothing. obstruction oriented republican House has caused Obama's Jobs Bill not to be passed, so you are now on record for holding up the American recovery...
     

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