Home > Boards > The Lounge > Coffee Shop > Julius Briner
Followed By 0
Posts 12
Boards Moderated 1
Alias Born 09/09/2009

Friday, September 25, 2009 11:20:28 AM

Re: None

Post# of 7
NEW YORK (Reuters) - U.S. consumer sentiment rose in late September to the highest since January 2008 as expectations of an economic rebound gathered momentum, a survey showed on Friday.

The data added to indications the economy is pulling out of a lengthy recession more powerfully than many analysts had expected a few months ago, although doubts persist about how much staying power the rebound may have.

The Reuters/University of Michigan Surveys of Consumers said its final index of sentiment for September rose to 73.5 from 65.7 in August. This was above economists' median expectation for a reading of 70.3, according to a Reuters poll.

The index of consumer expectations rose to 73.5, the highest in two years, from 65.0 in August.

U.S. stock indexes initially bounced on the news but then slipped, while Treasury debt prices were off slightly and the dollar fell against the yen and euro.

"The same pace of gains in confidence continued in late September as the economic news reaching consumers grew even more positive," the Reuters/University of Michigan Surveys of Consumers said in a statement. "Consumers reported that the economy had already begun to improve and anticipated further gains in the year ahead."

The index of current conditions rose to 73.4 in late September from 66.6 in August.

"It looks like people feel better about both current conditions and the future. If we can only get business sentiment to improve a bit more, we'd probably go from a yellow light to a green light," said Gary Thayer, macro strategist with Wells Fargo Advisors in St. Louis. "If business sentiment picks up, the job situation would improve and consumer sentiment will improve further."

The survey's 12-month economic outlook jumped to 88 in late September from 69 in late August.

"The data provide considerable evidence that the economy has already begun to recover," the Reuters/UMich statement said. "Nonetheless, the pace of gains in consumer spending are still expected to be slower than usual due to expected lags in job and income gains as well as the renewed desires of consumers to save and the more limited availability of credit."

SKYX Achieves Historic U.S. Standardization Approval Vote - a Major Milestone Towards Mandatory Status for Safety of Consumers and Professionals SKYX Aug 9, 2022 8:36 AM

Branded Legacy, Inc. Announces Cancelation of 102 Million Common Shares BLEG Aug 9, 2022 8:30 AM

News, Information and Insight on Those Public Companies Dedicated to Environmentally Friendly Alternative Energy Sources. BIOF Aug 9, 2022 8:30 AM

OTC: ILUS, ILUS International (Ilustrato Pictures International Inc.) Confirms the Settlement of Two $500,000 Notes and Announces a Further $5.6 Million in Funding ILUS Aug 8, 2022 1:49 PM

Progressive Care Announces Launch of New Logo as It Continues to Upgrade and Strengthen Its PharmcoRx Brand RXMD Aug 8, 2022 10:42 AM

Current Developments at Argentum 47, Inc. and Roadmap to 2023 ARGQD Aug 8, 2022 10:29 AM

Kona Gold Beverage, Inc Expands Sales Team KGKG Aug 8, 2022 9:00 AM

The Power of Science to Stop a Killer NVS Aug 8, 2022 8:45 AM

Mru Patel Appointed Non-Executive Director of Axis Technologies Group, Inc. AXTG Aug 5, 2022 9:00 AM

HealthLynked to Premier "Forever: The End of Aging" Medical Documentary atCMX CinéBistro Theater in Naples, Florida on August 28th HLYK Aug 5, 2022 8:00 AM

Progressive Care Announces Shareholder Conference Call and Business Update on August 11, 2022 RXMD Aug 5, 2022 7:15 AM

IGEN announces Net Profit for Second Quarter 2022 IGEN Aug 5, 2022 7:08 AM

Kaya Holdings to Seek Licenses for First Ever State Legal Psilocybin Manufacturing and Facilitation Service Centers in Oregon KAYS Aug 4, 2022 12:44 PM

American Rebel Holdings Completes Acquisition of Champion Safe Company, Solidifying A Leading Position in Safe Industry AREBW Aug 4, 2022 10:27 AM

OTC: ILUS, ILUS International (Ilustrato Pictures International Inc), Summarizes Its Second Quarter of 2022 Results, Including a 588% Revenue Increase Over the Same Period in 2021 ILUS Aug 4, 2022 10:19 AM