We are doomed, this country has died, blah, blah but Consumer Confidence Climbs to 5 yr. High LOL!
An increasingly upbeat view of the economy and the jobs market drove consumer sentiment to its highest level in more than five years in early November, while a jump in wholesale inventories suggested the economy grew more than initially estimated last quarter.
It was the fourth month that Americans adopted a rosier economic outlook, even as financial markets showed increasing anxiety on fear that the spending cuts and tax increases set to take effect in the new year could push the country back into recession.
Separate data from the government on Friday showed wholesale inventories rose in September by the most in nine months, prompting economists to raise their forecasts for third-quarter growth. Inventories are a key element of the government’s measure of economic growth and can highlight underlying strength or weakness.