Confidence Among U.S. Consumers Rose on Jobs Outlook

[one...two...tree 2,762]

Aug. 25 (Bloomberg) -- Confidence among U.S. consumers increased in August as consumers became less worried about the outlook for the labor market.

The Conference Board’s confidence index rose to 54.1, more than forecast and the first gain in three months, from 47.4 in July, a report from the New York-based group showed today. The figure reached a record low of 25.3 in February.

Consumers this quarter have benefited from government efforts such as the “cash-for-clunkers” plan and extended jobless benefits aimed at buttressing spending, which accounts for 70 percent of the economy. Nonetheless, an unemployment rate that’s projected to reach 10 percent by early 2010 and stagnant wages will make the gains difficult to maintain.

“Consumers were more upbeat in their short-term outlook for both the economy and the job market in August, but only slightly more upbeat in their income expectations,” Lynn Franco, director of the Conference Board’s consumer research center, said in a statement. “As long as earnings continue to weigh on consumers’ minds, spending is likely to remain constrained.”

Consumer confidence was projected to rise to 47.9 from a previously reported 46.6 in July, according to the median estimate in a Bloomberg News survey of 67 economists. Forecasts ranged from 42 to 51. The index averaged 57.95 last year.

http://bloomberg.com/apps/news?pid=2060108...id=a3wdcbiGyOfA

[alienlovechild 75]

Confidence Among U.S. Consumers Rose on Jobs Outlook

It's a good thing no one is listening when Obama's own people say unemployment will rise in 2010. Yes, we can (even if the stats say NOPE).

[Ban Hammer 14,665]

Confidence Among U.S. Consumers Rose on Jobs Outlook

It's a good thing no one is listening when Obama's own people say unemployment will rise in 2010. Yes, we can (even if the stats say NOPE).

yeah i saw that one on the news. maybe we should link steven so he's informed.

[luckytxn 2,265]

My confidence is up.

[one...two...tree 2,762]

My socialist confidence is up.

You forgot you special word, silly.

[alienlovechild 75]

My socialist confidence is up.

You forgot you special word, silly.

His teacher told him he'd get a red star everytime he could use the word in a sentence.

[HAL 9000 96]

How many housing markets are seeing a net increase in housing prices as of the last couple of months?