Friday, November 13, 2009

Consumer Sentiment One of the Few Accurate Econ Stats Is SkyDiving

Consumer Sentiment - Huge Miss

Released on 11/13/2009 9:55:00 AM For November, 2009

Consensus Range
Sentiment Index - Level
69.0  to 72.0

Consumer confidence is having a fainting spell. The Reuters/University of Michigan's reading on confidence, the consumer sentiment index, fell back a very steep 4.6 points to a very weak 66.0. Weakness is split between current conditions and the outlook. Inflation expectations remain subdued. Consumer confidence is declining even as manufacturing, housing and even retail report concrete improvement. The weakness is rooted in the still contracting jobs market.  But note that movements in consumer confidence data don't always track movements in retail spending. The retail trade report for October, where the outlook is good, will be Monday's highlight.

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