Rasmussen: Consumer confidence hits high

[croupier101]

The Rasmussen Consumer Index, which measures the economic confidence of consumers on a daily basis, rose less than a point on Tuesday to 79.3, its highest level yet in 2009 and the highest level measured since September 17, 2008, just days after the Lehman Brothers collapse and the start of the financial crisis.

http://www.rasmussenreports.com/public_content/business/indexes/rasmussen_consumer_index2/rasmussen_consumer_index

[Mojotiger]

Good news.

[mmancil]

Yet another good sign.

Let's hope the bad times are behind us.

[Dr. Funkenstein]

Good to hear...and here's hoping it's a harbinger of positive news to come.

[jeepers]

Consumers are spending because retailers are hurting and they're having big sales.

Sunday was a free tax day here. Had to go school clothing shopping. One store had outrageous deals. Two for the price of one, or just low prices. No sales tax. And then the salesperson handed me a coupon for an additional 30% off to try to get me to spend more. Did I buy things? Heck yes, I did.

This is a 'get what you need now before inflation eventually hits' thing for me. I truly think that it's the time to also buy big ticket items if you need them. I just bought some much waited for furniture last week. Don't think that anything is going to get cheaper, I think that when inflation hits, it's going to get ugly. Let alone when cap and trade starts rolling. That alone is probably going to add between 10-25% for everything.

This is in response to a complete LACK of confidence in the economy.

So don't kneejerk the analysis. Things might not be what they seem.

[fava]

Is consumer confidence a trailing indicator?

[croupier101]

Consumers are spending because retailers are hurting and they're having big sales.

Sunday was a free tax day here. Had to go school clothing shopping. One store had outrageous deals. Two for the price of one, or just low prices. No sales tax. And then the salesperson handed me a coupon for an additional 30% off to try to get me to spend more. Did I buy things? Heck yes, I did.

This is a 'get what you need now before inflation eventually hits' thing for me. I truly think that it's the time to also buy big ticket items if you need them. I just bought some much waited for furniture last week. Don't think that anything is going to get cheaper, I think that when inflation hits, it's going to get ugly. Let alone when cap and trade starts rolling. That alone is probably going to add between 10-25% for everything.

This is in response to a complete LACK of confidence in the economy.

So don't kneejerk the analysis. Things might not be what they seem.

The article also explains that the Investor Confidence Index is also at one year highs.

[Libstomper]

Is consumer confidence a trailing indicator?

Generally, but not as much as unemployment. For the most part, if consumer confidence increases, unemployment decreases.

Correlation isn't causation, but the two are at least somewhat related.

[kat]

Is consumer confidence a trailing indicator?


I think it's a "tracking poll"


Yes the stores are crowded. People are back to school shopping and picking up drastically reduced seasonal items.

[ksdb]

Let's not celebrate too much. It's about 30-40 points lower than it would be during stable economic periods.

[homiebrah]

Generally, but not as much as unemployment. For the most part, if consumer confidence increases, unemployment decreases.

Correlation isn't causation, but the two are at least somewhat related.

We'll see next month when the unemployment figures for August are released. I'm enjoying the relatively low-priced back-to-school shopping I'm getting done. I saved last year's list and receipt to compare this year, and it's about 30% cheaper now, which you can never go wrong on.

[CaughtInTheMiddle]

Consumers are spending because retailers are hurting and they're having big sales.

Not this consumer. I only spend when it makes sense for my family.

[misterblue]

Consumers are spending because retailers are hurting and they're having big sales.

Sunday was a free tax day here. Had to go school clothing shopping. One store had outrageous deals. Two for the price of one, or just low prices. No sales tax. And then the salesperson handed me a coupon for an additional 30% off to try to get me to spend more. Did I buy things? Heck yes, I did.

This is a 'get what you need now before inflation eventually hits' thing for me. I truly think that it's the time to also buy big ticket items if you need them. I just bought some much waited for furniture last week. Don't think that anything is going to get cheaper, I think that when inflation hits, it's going to get ugly. Let alone when cap and trade starts rolling. That alone is probably going to add between 10-25% for everything.

This is in response to a complete LACK of confidence in the economy.

So don't kneejerk the analysis. Things might not be what they seem.

We Need to Stop cap and trade.

[oldbull]

I still go with my theory, as Obama's ratings fall, and chances of his plans passing lessen, investors and consumers become more confortable.

OldBull

[JudasGoat]

I still go with my theory, as Obama's ratings fall, and chances of his plans passing lessen, investors and consumers become more confortable.

OldBull


:think:

[AHA]

http://www.rasmussenreports.com/public_content/business/indexes/rasmussen_consumer_index2/rasmussen_consumer_index


You forgot to mention that it's the result of the free market's power and not your boy Obama's "stimulus" schemes. Good news, it shows that people are paying attention and have confidence that Obamaism is waning.

[Gengar]

Wow... polls matter today!

Nice numbers though... that's like saying a girl is still ugly... just not butt ugly. :))

See folks! We all predicted this!

Obama and Company would push things as low as they could go... then when there's the slightest uptick (1/10th of 1% ring any bells?), RECOVERY! :))

[Thanatos144]

great people are spending money.....oh wait why is this good again? You cant spend your way out of debt.

[AHA]

i still go with my theory, as obama's ratings fall, and chances of his plans passing lessen, investors and consumers become more confortable.

Oldbull



Bingo!

[jeepers]

The article also explains that the Investor Confidence Index is also at one year highs.


Better compared to massively dismal?

Not exactly fanfare.

Your statement reminds me how I feel here when they say "a cold front is coming through" and it's a normal August. Something is terribly wrong when you say that. I realize that it's a meterological term and the temps do go down. But it's the difference usually between DEAR GOD IT'S HELL OUT THERE and LOOK it's FIVE DEGREES LOWER.

But it's still too freaking hot for man or beast. Does it matter if your oven is at 400 versus 375? Uh, no. Not when the generic impression is ITS HOT.

Suck versus slightly less suck doesn't mean that things are better, nor does it mean that it won't get worse tomorrow.

I have no faith in the economy right now, no matter who says what or what they do about it. It's on life support at this moment and it could basically still do anything.

[LJ14]

Good. Now that the crisis is averted thanks to Super-Obama... Congress can give us back the rest of our ****ing money from the Porkulus bill.

[AHA]

http://www.rasmussenreports.com/public_content/business/indexes/rasmussen_consumer_index2/rasmussen_consumer_index


A little update on the Obamanomics front. :think:

http://finance.yahoo.com/news/Retail-sales-dip-01-percent-apf-2840598402.html?x=0&.v=1

[sonnytt]

Also, GDP for the second quarter came better than expected in Germany, France and the Eurozone as a whole. Germany and France actually actually had their GDP increase in Q2 compared to Q1.

The recovery will be slow, but we're getting out of the woods.

[DaveKlassix]

Wow... polls matter today!

Nice numbers though... that's like saying a girl is still ugly... just not butt ugly. :))

See folks! We all predicted this!

Obama and Company would push things as low as they could go... then when there's the slightest uptick (1/10th of 1% ring any bells?), RECOVERY! :))


Notice during today's "gyration" in the polls, he doesn't mention Obama's record low approval rate (for him), the even bigger gap in those who support HusseinCARE, or even how Pat Toomey now lets Bendict Arlen Specter when he trailed by double digits two months ago.

[Electromyographical Alien]

This doesn't really match Rasmussen's poll released today showing a decline in consumer spending on retail as well as record foreclosure rates.

So consumers are confidant they can buy stuff, but don't?

[NKT]

Well, that didn't last long...

http://www.msnbc.msn.com/id/32416504/ns/business-stocks_and_economy/

[Hellsbane]

Well, if consummers are so damn confident, why the hell arn't they out there spending, spending, spending? Confidence doesn't pay wages, spending money does. Time to shop till you drop people!

[Thanatos144]

it is all BS. If the rescission was over it wouldn't be so damn hard to find a job.

[Manager]

We all know the unemployment rate is double what this admin puts out. All those who were receiving benefits have run out and how about all the self employed who have not collected benefits.

With housing expecting to get even worse and commercial real estate next to fall. It will be years before we see some light in this economy.

But I am so glad the clown and his libs are spending us into prosperity...

[Erick_KS]

http://www.rasmussenreports.com/public_content/business/indexes/rasmussen_consumer_index2/rasmussen_consumer_index

No commentary?

What's the point of the OP?

[DaveKlassix]

No commentary?

What's the point of the OP?

The Messiah fixed the economy, the recession is over!

[VR2009]

Well, if consummers are so damn confident, why the hell arn't they out there spending, spending, spending? Confidence doesn't pay wages, spending money does. Time to shop till you drop people!

There are contradicting reports on the consumer confidence polls...here is something that contradicts the "all is well" scenario...
http://finance.yahoo.com/news/US-consumers-mood-darkens-in-rb-3949200870.html?x=0&sec=topStories&pos=4&asset=&ccode=

[timjy]

A strawman grasping at straws.:boohoo: