Chart of the Week: Consumer Confidence Spikes
The Conference Board’s Consumer Confidence Index Rebounds In December
The Conference Board’s Consumer Confidence Index, which had been declining since August, rebounded smartly in December. It now stands at 102.3, up significantly from 92.6 in November. The Present Situation Index also snapped to, up almost 10 to 105.9 from 96.3.
Methinks tis the season to be Jolly: “The continuing economic expansion, combined with job growth, has consumers ending the year on a high note,” says Lynn Franco, Director of The Conference Board’s Consumer Research Center. “The most significant contributor to the rebound in confidence has been the overall improvement in current conditions over the past twelve months. And consumers’ outlook suggests that the economy will continue to expand in the first half of the new year.”
Source: The Conference Board
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Quote of the Day
"Bull markets are born on pessimism, grow on skepticism, mature on optimism and die on euphoria." -Sir John Templeton
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From 1960 to 1995 consumer expectations has a 0.9 correlation with the S&P 500 PE.
This tight fit broke down for a few years, but
it now looks to have reemerged.
Posted by: spencer | Dec 28, 2004 4:59:05 PM
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