President Barack Obama Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : President Barack Obama

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: denizen48 who wrote (125172)	10/26/2012 10:35:46 AM
From: ChinuSFO	Read Replies (1) of 149317

Consumer sentiment at highest in five years in October A shopper walks down an aisle in a newly opened Walmart Neighborhood Market in Chicago in this September 21, 2011 file photo. REUTERS/Jim Young/Files The Thomson Reuters/University of Michigan's final reading on the overall index on consumer sentiment rose to 82.6 from 78.3 in September. It was at its highest level since September 2007 on a final reading basis. Still, that was slightly below the preliminary reading of 83.1 and shy of economists' expectations for 83. There are also clouds on the horizon. After the presidential election in November, policymakers will have to deal with a package of scheduled spending cuts and tax increases, and political wrangling could prompt a decline in consumer confidence as sharp as the recent increase, according to the survey. "Unless the legislation is carefully managed by whoever wins, the debate could produce the same depressing effect on consumer confidence as last year's debt ceiling fiasco," survey director Richard Curtin said in a statement. "While the surge in confidence will act to bolster consumer spending during the upcoming holiday season, it also means that this higher level of confidence is more vulnerable to reversal and has thus raised the stakes for post-election economic policies." Two-thirds of consumers surveyed expected President Barack Obama to win his re-election bid in just over a week. The barometer of current economic conditions gained to 88.1 from 85.7, while the gauge of consumer expectations rose to their highest level since July 2007 at 79 from 73.5. Consumers anticipated smaller price increases, with the one-year inflation expectation easing to 3.1 percent from 3.3 percent, while the five-to-10-year inflation outlook fell to 2.7 percent from 2.8 percent. finance.yahoo.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next