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Fri Oct 12, 2012, 10:29 AM

Consumer Sentiment in U.S. Rises to Pre-Recession High [View all]

Source: Bloomberg

Confidence among U.S. consumers unexpectedly jumped in October to the highest level since before the recession began five years ago, raising the odds that retailers will see sales improve.

The Thomson Reuters/University of Michigan preliminary October consumer sentiment index increased to 83.1 from 78.3 the prior month. The gauge was projected to fall to 78, according to the median forecast of 71 economists surveyed by Bloomberg News.

Rising stock and property values along with falling joblessness may keep giving Americans a psychological boost, brightening the household-spending outlook during the year-end holidays. Improving confidence may play a role in next month’s election as Republican challenger Mitt Romney tries to make a case for unseating President Barack Obama, a Democrat.

“People expect the economy is going to be healthier next year, they expect their job prospects to get better and they even expect their income to be a little better,” Christopher Low, chief economist at FTN Financial in New York, said before the report. “People do seem to be comfortable saving a little less and spending a little more.”

Read more: http://www.bloomberg.com/news/2012-10-12/consumer-sentiment-in-u-s-rose-in-october-to-pre-recession-high.html

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Reply Consumer Sentiment in U.S. Rises to Pre-Recession High [View all]
Purveyor Oct 2012 OP
bamacrat Oct 2012 #1
maddogesq Oct 2012 #2
hoosierlib Oct 2012 #3
adigal Oct 2012 #4
Bluzmann57 Oct 2012 #5
jpak Oct 2012 #6
4lbs Oct 2012 #7
andym Oct 2012 #8
Stellar Oct 2012 #9
Dawson Leery Oct 2012 #10
llmart Oct 2012 #11
andym Oct 2012 #12
TomCADem Oct 2012 #13