HUGE MISS: CONSUMER CONFIDENCE PLUNGES TO 60.6

Business Insider ^ | 08/28/2012 | Mamta Badkar and Eric Platt

[SeekAndFind]

Consumer confidence missed big in August falling to 60.6. The reading is the lowest since November 2011. Meanwhile, July's reading was revised down to 65.4.

"Consumers were more apprehensive about business and employment prospects, but more optimistic about their financial prospects despite rising inflation expectations," according to Lynn Franco, Director of Economic Indicators at The Conference Board.

"Consumers' assessment of current conditions was virtually unchanged, suggesting no significant pickup or deterioration in the pace of growth."

But the number is still above 60, showing the report wasn't a complete disaster. Here are some highlights from the report:

The percent saying business conditions are "good" climbed to 15.2 percent, from 13.7 percent.

The percent saying business conditions are "bad" was unchanged at 34.4 percent.

The percent saying jobs are "plentiful" fell to 7 percent, from 7.8 percent.

The percent saying jobs are "hard to get" eased to 40.7 percent from 41 percent.

The percent of consumers expecting business conditions to improve over the next six months fell to 16.5 percent, from 19 percent.

The percent jobs to increase in the months ahead declined to 15.4 percent from 17.6 percent.

The percent expecting fewer jobs climbed to 23.4 percent from 20.6 percent.

[DoughtyOne]

I honestly agree with that. I’m not voting for Romney, but I expect him to mop the floor with Obama. I’ll be glad to see that, because Obama and the Dems deserve to be destroyed. I am not going to enjoy the next four years though. It is going to be a very painful thing to watch, if what I see happening comes to fruition.

[KevinDavis]

Plus Obama spent a good portion of his campaign cash already.

[GOPJ]

The MSM will find many excuses - none will include Obama.