Consumer Confidence

By Peter Boockvar - August 25th, 2009, 10:19AM

August Consumer Confidence from the Conference Board was a better than expected 54.1 vs the consensus of 47.9 and up from 47.4 in July. It’s the highest since May which at the time was the most since Aug ’08. Almost all of the improvement was in the Expectations component which rose about 10 points while the Present Situation rose just 1.6 points and remains just 3 points from its lowest level since 1983. Expectations are the highest since Oct ’07. The labor market answers showed improvement as those that said jobs were Plentiful rose .5 point and those that said jobs were Hard To Get fell 3.4 points with both back to the level of June. Those that said they plan to buy a home within 6 months rose .7 points to the most since May and those that said they plan to buy a car rose .4%, also the highest since May. One year inflation expectations fell .1% to 5.4%, the lowest since Feb ’08.

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Category: MacroNotes.

Comments

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

One Response to “Consumer Confidence”

Pat G. Says:
August 25th, 2009 at 12:47 pm
Consumer confidence? Oh, c’mon. This survey consists of 5K households. Let’s say each is a family of 4, so you have 20K. There are 300M Americans. This survey represents less than 1/10 of 1%. How is that indicative? Besides who are these households? I’ve never known anyone to be involved in this survey & I know a lot of people. Do they call the same households each month? Or what?