Skip to comments.Consumer confidence falls on gloomier jobs view (consumers grow more pessimistic in June 2009)
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 ...
What leaps off the page is that the confidence level is falling even with State TV continually praising the deeds of the 0bama administration.
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!
Yeah, green shoots, but Obama is Round-up.
just wait till they get a gander at their first post-Waxman-Markey electric bill...
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.
Hey, -—— They wanted “Change” !
They are getting “Change” ......
I hope all the people that voted this Fraud into office have a nice long look at how things are Changing.
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.
shouldn’t this be in breaking news?
The Hussein worshipping media isn’t trumpeting this newz.
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.
I smell double dip recession and I am getting nervous.
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...
The only folks who are happy are Democrat activists because the "Economic Stimulus" is a trillion dollars in campaign money.
Where are the jobs Obama?
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.
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...
Jobs destroyed by Obama since taking office:
Total job destruction since Obama takes office = 2,918,000
jobs = self sufficiency = liberty
all things Obama wants to destroy
It looks like people are starting to figure out Obama’s distraction tricks.
as of june 20th, the U.S. had lost 627,000 jobs in the first 3 weeks of June alone.
I have cut all spending other than necessities until we have a change in government. Will not give the current Socialist administration one red cent more than absolutely have to.
The time is now.
Quote of the Day.
Yep. We have custom bed tanks on the trucks an FJ80 Landcruiser. We fill em at a local wholesale outlet for cash at awesome prices. Each bed tank hold 200 gal an the FJ has 72 gal capacty. We deal in cash where possible an fuel is only one.
We barter an trade. I am house sitting this summer for friends. They have a pool so I am living large an my own homes utilites are less than 30 dollars. Saving cash gettin a tan etc ....
Guess you can’t deny reality forever.
You’re right, this whole mess started with a greedy, power-mongering Democrat Congress. Bush may have rolled over like a kicked dog but he hasn’t been driving this train.
I think our country will have to tank so badly before the dumbed down masses & highly educated Phd idiots & left wing millionaires & billionaires realize that 0boooomba & the socialist demoRATs are destroying our country, and need to be removed by force if necessary. Especially since socialism never gives up without a fight.
It has only been 5 months of Obama. Yes, consumers are smart.
No! No! At least twice that, maybe more. And none of them pollute even a tiny bit. And they're all "meaningful."
We will all be fine once the government windmill factories get up and running.
They will never admit to it even if they are capable of critical thought. Demrat voters—and so called Pubbie Moderates (AKA RINOs)—are totally dumbed down and propagandized.
Instead, any remorse they may feel for putting the Marxist Onada into the WH will be expressed in even more intense hatred of conservatives.
I was talking to a guy on a bench at EPCOT. Just a nice conversation while awaiting the return of the wives and children/grandchildren from shopping or whatever.
I won’t go into all the details, but somehow we swerved into politics. Turns out he was democrat. Anyway, the most salient thing he said is that the left is this country ONLY stands for compassion—taking care of the people (especially children). It has nothing to do with socialism or communism. He actually told me he, and those like him, care more about my children than I do.
The bottom line is that he really thinks he is morally and intellectually superior to any conservative. He really believes conservatives are evil people. Therefore, it is beneath him to even talk to a conservative—let alone discuss politics with a conservative. I asked him a couple of question of simple yes or no questions. He jumped up like he was scalded and literally ran away from me.
The whole encounter was bizaar.
he is killing us
Yes, I know many liberals I would characterize this way. I don't know how we got to this point as a nation...
Here’s how we got here:
1. The left coopted the US Supreme Court for 50 years. Although there is a constitutional majority on the court today, there is no guarantee it will persist. In any case, much of the damage done by liberal court is still in place.
2. The left coopted education from K through university. Now it is setting its sights on day care.
3. The left coopted the news media.
4. The left coopted religion.
5. The left coopted the GOP. It has become a tool of the Demrat Party. There has been no viable opposition to the Demrat Party since Reagan’s presidency.
6. The left’s persistent and long term campaign to denigrate America and the American family through junk music, movies and science has reinforced the propaganda it spreads in the schools and churches/synogogs.
My friend, it’s quite clear how we got here.
I meant in terms of the personal animosity and contempt. And this among regular people, not just the activists!