Consumer Confidence at Five Year High

Good news — consumer confidence is now at its highest level since 2007. You know, because the economy is getting worse!

WASHINGTON (MarketWatch) — Consumer sentiment has jumped up again, pushing past analysts’ expectations to stand at the highest level in more than five years, according to data released Friday.

The University of Michigan-Thomson Reuters sentiment gauge rose to 83.1 in a preliminary October reading — the highest level since September 2007 — from a final September reading of 78.3. Consumers’ sentiment has been increasing since August, with September seeing a four-point gain, following a two-point rise in August.

Are average consumers also a party to the vast liberal conspiracy to fix economic data?

Like it or not we live in a consumer-driven economy and an uptick in consumer confidence may lead to an increase in demand. A lack of demand is what has prevented the economy from recovering more swiftly here at home and abroad.

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  • http://www.facebook.com/people/Michael-Norris/1597765442 Michael Norris

    I am sure this news will keep Darrell Issa busy working on investigating another agency obviously cooking the books for Obama. Unless of course he is out stealing a car somewhere.

  • Ned F

    Well, I dunno, as Paul Ryan reminded us last night, “This not what a real recovery looks like”.

  • http://www.facebook.com/people/Kevin-Krupski/100002308768984 Kevin Krupski

    Dennis Miller was loosing his spadoncal over this today (along with the Libia attacks) spinning it so it seems like the whole report was down in under a week and just after the last debate. The GOP talking hacks are getting desperate.

    • bphoon

      Sure. U of M and Thomas-Reuters obviously are yet more members of the vast left-wing conspiracy to steal the election from the those whose birthright is to rule: Romney and Ryan.

      RWNJ have such a hard time dealing with objective information that contradicts their worldview. Poor things…

    • Victor_the_Crab

      Remember when people thought Dennis Miller was funny and insightful? HA!

  • D_C_Wilson

    Coming up on Fox and Friends:

    Some people say that the majority of Americans are conspiring to re-elect Obama.

  • BuffaloBuckeye

    “.. we live in a consumer-driven economy and an uptick in consumer confidence may lead to an increase in demand. A lack of demand is what has prevented the economy from recovering more swiftly..”

    Again, making bphoon’s point from late last week/early this week. Tax cuts don’t mean shit; demand is the driver.

    • BuffaloBuckeye

      To be specific, job creation, sorry about that.