Skip to comments.Consumer Confidence Plunges Over the Cliff
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 Michigans 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 ...
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.
Sentient adults know 0bama is a disaster for the economy.
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
Yes, but what a couple dozen of us do?