Consumer confidence hits post-recession peak. Best reading since February 2008
Here are a few quotes from Steve Goldstein and Ruth Mantell from Marketwatch. All good signs!
“The Conference Board said its consumer confidence index rose to 73.7 in November from 73.1 in October. That’s above the 72.2 level forecast in a MarketWatch-compiled survey of economists and the best level since February 2008. The October reading was upwardly revised from 72.2”.
As we see the economy improving a bit, home prices are rising, wages are increasing and the job market is improving we see Consumer confidence rising.
“The University of Michigan said it was the most favorable outlook for the unemployment rate since 1984 — at a time when the jobless rate is 7.9%”.
“Four of the 10 leading LEI indicators made positive contributions in October, led by the interest-rate spread. Other positive contributions came from a leading-credit index, weekly jobless claims and manufacturers’ new orders for core capital goods”.
As we look at the ship called America it appears we are no longer in a “list” position but it appears we have righting moment. It will still take time and patience but I think we are on the right course.