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Consumer Confidence Plunges Over the Cliff
wallstcheatsheet.com ^ | December 7, 2012 | Eric McWhinnie

Posted on 12/07/2012 9:37:57 AM PST by John W

Despite a better-than-expected November unemployment report, consumer confidence in the United States plummeted in December to its lowest level in four months.

The Thomson Reuters/University of Michigan’s preliminary index on consumer sentiment dropped to 74.5 this month, sharply lower when compared to the 5-year high of 82.7 in November. It was the lowest reading since August and well below estimates. Economists polled in a survey expected a median of 82.0, with the 67 economists projecting the figure to range between 80.0 and 88.0. Economists surveyed by Reuters placed a median forecast of 82.4 on the report.

The fiscal cliff, a combination of tax cuts expiring and a reduction in government spending, is taking the majority of the blame for the weak consumer sentiment.

(Excerpt) Read more at wallstcheatsheet.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS:
More pro-Obama spin.
1 posted on 12/07/2012 9:38:03 AM PST by John W
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To: John W

Compare consumer confidence to the election polls. As Romney’s numbers rose and it looked like he could win the consumer confidence rose too. Now that Obama won the numbers tanked. I am not surprised no matter how the press tries to spin it.


2 posted on 12/07/2012 9:47:38 AM PST by Armando Guerra
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To: Armando Guerra

Sentient adults know 0bama is a disaster for the economy.


3 posted on 12/07/2012 9:56:24 AM PST by Uncle Miltie (BOHICA eGOP!)
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To: John W
.....consumer confidence in the United States plummeted in December to its lowest level in four months.
The Thomson Reuters/University of Michigan’s preliminary index on consumer sentiment dropped to 74.5 this month, sharply lower when compared to the 5-year high of 82.7 in November.

Well, yeah.....the country was more confident for the November index.
Most expected Mittens to win - when he didn't the consumer sentiment tanked with Mitten and Øbama voters and none voters

4 posted on 12/07/2012 11:00:14 AM PST by libertarian27 (Check my profile page for the FReeper Online Cookbook 2011)
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To: Uncle Miltie

Yes, but what a couple dozen of us do?


5 posted on 12/07/2012 2:10:05 PM PST by sphinx ([)
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