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Consumer confidence falls on gloomier jobs view (consumers grow more pessimistic in June 2009)
Market Watch ^ | 6/30/2009 | Ruth Mantell

Posted on 06/30/2009 10:12:08 AM PDT by SeekAndFind

WASHINGTON (MarketWatch) -- A reading on U.S. consumer confidence relapsed in June, falling to 49.3 from a slightly downwardly revised 54.8 in May, as worries grew about jobs and the economy, the Conference Board reported Tuesday.

Following a large confidence jump in May, consumers grew more pessimistic in June about their present and future. Economists polled by MarketWatch had expected the June result to hit 55.5, continuing recent confidence gains.

"On balance, this was a disappointing report as it has clearly bucked the trend of improving consumer sentiments in the past few months," wrote Millan L. B. Mulraine, economics strategist with TD Securities, in a research note. "Moreover, with the details of the report uniformly weak, we are left with the impression that this was an outright slump in consumer confidence."

The present situation index declined to 24.8 in June from 29.7 in May, while the expectations index fell to 65.5 from 71.5, according to the Conference Board.

"The decline in the present situation index, caused by a less favorable assessment of business conditions and employment, continues to imply that economic conditions, while not as weak as earlier this year, are nonetheless weak," said Lynn Franco, director of the Conference Board's Consumer Research Center, in a statement.

"Looking ahead, expectations continue to suggest less negative conditions in the months ahead, as opposed to strong growth," said Franco.

The percentage of consumers with plans to buy an automobile within six months fell to 4.6% from 5.7%, while those with plans to buy a home fell to 2.7% from 2.8%, and those with plans to buy major appliances fell to 26.5% from 29.2%.

Consumers' inflation rate expectations for 12 months rose to 5.9% from 5.6% in May.

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


TOPICS: Breaking News; Business/Economy; Culture/Society; News/Current Events
KEYWORDS: 111th; 2009polls; bhoeconomy; consumerconfidence; economy; second100days; thecomingdepression; unemployment
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1 posted on 06/30/2009 10:12:08 AM PDT by SeekAndFind
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To: SeekAndFind
OBAMANOMICS!
2 posted on 06/30/2009 10:14:31 AM PDT by Obadiah (Obama: Chains you can believe in!)
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To: SeekAndFind
This Index attempts to measure the perception of people towards aspects of the economy.

What leaps off the page is that the confidence level is falling even with State TV continually praising the deeds of the 0bama administration.

3 posted on 06/30/2009 10:15:51 AM PDT by spald
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To: SeekAndFind

But, but, but... ABCNBCCBSCNNMNSNBC says there are green shoots! Ignore the numbers... Obama says projections are up! Hopes are up! The new numbers should be coming in any time now! Annnnnnnd... He’s created or saved something like 1,500,000,000,000,000,000 jobs!


4 posted on 06/30/2009 10:16:40 AM PDT by snowrip (Liberal? YOU ARE A SOCIALIST WITH NO RATIONAL ARGUMENT.)
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To: SeekAndFind

Smart consumers.


5 posted on 06/30/2009 10:17:10 AM PDT by TheWasteLand
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To: snowrip

Yeah, green shoots, but Obama is Round-up.


6 posted on 06/30/2009 10:17:39 AM PDT by Obadiah (Obama: Chains you can believe in!)
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To: SeekAndFind

just wait till they get a gander at their first post-Waxman-Markey electric bill...


7 posted on 06/30/2009 10:17:41 AM PDT by Buckeye McFrog
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To: SeekAndFind
I've always thought that this survey has to be one of the dumbest things ever, especially how it changes drastically every month on a whim. When it's bad news you don't hear much about it, but if it had gone up for a second straight month we would never hear the end of how Obama is saving the economy!
8 posted on 06/30/2009 10:22:12 AM PDT by aegiscg47
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To: SeekAndFind
wow, so OBAMA'S CARTE BLANCHE STIMULUS PLAN (COMPRISING OF 1600 PAGES WHICH NO ONE BOTHERED TO READ) COSTING US ONE TRILLION DOLLARS ($1,000,000,000,000 OR $1,000,000 X 1,000,000) OF OUR HARD EARNED MONEY CANT GIVE A MEASLY BUMP IN CONSUMER CONFIDENCE???

The problem is not the so-called stimulus plan but what its real intent was about: not to stimulate anything but to buy votes at election time.

9 posted on 06/30/2009 10:24:06 AM PDT by prophetic (God, let 0Bama and his evil plans for this country fail & let him be utterly disgraced like HAMAN!!)
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To: Buckeye McFrog

Hey, -—— They wanted “Change” !

They are getting “Change” ......

“Chump Change”

I hope all the people that voted this Fraud into office have a nice long look at how things are Changing.


10 posted on 06/30/2009 10:24:42 AM PDT by EnglishOnly (Fight all out to win OR get out now.)
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To: SeekAndFind

On CNN, some news chick was crowing about the latest market rally and how we are all happy now and more supersonic unicorn crap. They are so driven to see their guy be sucessfull, they can see the forest for all those damn trees in the way. Hey news chick, run full speed ahead until your forehead contacts a nice East Texas pine tree. Might knock some sense in to ya.


11 posted on 06/30/2009 10:32:41 AM PDT by Texas resident ( Cut n Shoot Texas: Got it's name honestly.)
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To: SeekAndFind
those lagging indicators are starting to kick some real ass....
12 posted on 06/30/2009 10:34:34 AM PDT by sfvgto (Dear Congress, my name is Jimmie....gimmie, gimmie, gimmie)
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To: SeekAndFind; Admin Moderator

shouldn’t this be in breaking news?

The Hussein worshipping media isn’t trumpeting this newz.


13 posted on 06/30/2009 11:12:12 AM PDT by Recovering_Democrat (I'm SO glad I no longer belong to the party of Dependence on Government!)
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To: SeekAndFind
Here is my antidotal input...

My business started falling off last fall gradually and bottomed out in March. April was a little better, and May was pretty good. June however was pretty bad and felt a lot like January and February. The phone is hardly ringing now, except for cold calls from other businesses trying to sell me something.

Sigh...

I smell double dip recession and I am getting nervous.

14 posted on 06/30/2009 11:30:39 AM PDT by TexasFreeper2009
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To: SeekAndFind

Huh?

Wasn’t it at like, 106 in January of 2007? How could it have fallen so much?

What was it that happened in January of 2007? I just can’t put my finger on it...


15 posted on 06/30/2009 11:33:19 AM PDT by South Hawthorne (In Memory of my Dear Friend Henry Lee II)
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To: SeekAndFind
The MSM's cheer-leading doesn't seem to be working.

The only folks who are happy are Democrat activists because the "Economic Stimulus" is a trillion dollars in campaign money.

16 posted on 06/30/2009 11:38:24 AM PDT by Carry_Okie (We have people in power infatuated with evil.)
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To: Squantos
The idiots up on top are only seeing the results of people like us who simply aren't buying anything extra! We're only buying what we need, and then in quantity. All we have to do is keep this up for another year and we can drag the entire mess into such a miserable hole that nobody will recognize this nation afterwards! Then again, even without us that would happen!

Have you noticed the cash deals lately? Holy smokes! There are some great deals out there if one has cash!
17 posted on 06/30/2009 11:47:24 AM PDT by hiredhand (Understand the CRA and why we're facing economic collapse - see my about page.)
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To: SeekAndFind

Where are the jobs Obama?


18 posted on 06/30/2009 12:01:50 PM PDT by TennTuxedo
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To: TennTuxedo

Reality bites the Baraqqis.
Despite the snow job from the MSM, there is hope for the 2010 elections.
We need to push hard to stall Cap N Tax and Obamacare.


19 posted on 06/30/2009 12:05:10 PM PDT by nascarnation
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To: TexasFreeper2009

Just got word today of a 5 percent pay cut. Crap. We hit our target in the first quarter, but not for the second it looks like...


20 posted on 06/30/2009 12:10:21 PM PDT by rwfromkansas ("Carve your name on hearts, not marble." - C.H. Spurgeon)
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