Consumers give US economy a lift before election

[Omaha Steve]

Source: AP-Excite

By CHRISTOPHER S. RUGABER

WASHINGTON - A flurry of data issued Thursday sketched a brightening view of the U.S. economy in the final days before a presidential election that will pivot on the strength of the recovery.

Cheaper gas, rising home prices and lower unemployment have given consumers the confidence to spend more. And retailers, auto dealers and manufacturers are benefiting.

At the same time, many employers remain anxious about the economy, which is why only modest hiring gains are forecast for Friday's jobs report for October. It will be the last major report on the economy before Election Day.

Both presidential candidates pressed their arguments Thursday for why President Barack Obama's economic stewardship should or should not earn him another four-year term. Campaigning in Roanoke, Va., Mitt Romney argued that under Obama, household incomes have fallen behind inflation and poverty has worsened.

FULL story at link.


Read more: http://apnews.excite.com/article/20121101/DA29FF081.html

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In this Wednesday, Oct. 17, 2012, photo, a sign advertising a sale is seen posted on a storefront in Philadelphia. A flurry of reports released Thursday, Nov. 1, 2012, showed that U.S. consumers are growing more confident and spending more, boosting a still-weak economy just five days before the presidential election. Consumer confidence surged in October to its highest level in nearly five years. Americans were encouraged by recent declines in the unemployment rate. And they responded by spending more on cars and trucks, at retail businesses and on goods produced at U.S. factories. (AP Photo/Matt Rourke)

[viguy007]

1. The only thing that has me worried about this election

is the unemployment figures out on Friday. It is estimated 150,000 jobs were added to the economy, but because of seasonal adjustment the unemployment rate will go up .1% to 7.9%. Romney will harp on this the final 4 days before the election. With the election being as close as it is, according to the polls, who knows what the effect will be. If the rate does not go up, victory for President Obama, and Mitt Romney just becomes a bad dream we had to live through. We can all sleep soundly without being haunted by the nightmare of a possible presidency of Mitt Romney.