U.S. December Michigan Sentiment Index Rises to 103.2 From 92.6

[RUexperienced]

http://quote.bloomberg.com/apps/news?pid=10000006&sid=a0kL.ykiOVnc&refer=home

U.S. December Michigan Sentiment Index Rises to 103.2 From 92.6

Jan. 16 (Bloomberg) -- U.S. consumer sentiment surged this month as stocks continued to climb and unemployment declined, a University of Michigan survey showed.

The university's preliminary January consumer sentiment index jumped to 103.2 from 92.6 in December. Economists projected an increase to 94 this month, based on the median of 53 estimates in a Bloomberg News survey.

``There's a lot of consumer momentum in the economy at the moment,'' said John Silvia, chief economist at Wachovia Corp. in Charlotte, North Carolina, before the report. Consumers are feeling better ``given the improvement in the equity market, as well as the general tone of the job market and the expectation that jobs are available out there.''

The economy will expand 4.6 percent this year, the fastest pace since 1984, according to the latest Blue Chip Economic Indicators survey. The unemployment rate fell in December to 5.7 percent from 5.9 percent. The Standard & Poor's 500 stock has risen more than 20 percent in the past year.
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<<<Universtiy of Michigan study... Go Blue!>>>

[Mistress Quickly]

1. It's the jobs stupid n/t

[RUexperienced]

2. Do you think jobs will be created if people don't have confidence

in their investments or confidence to buy a new car?

This is good news!

Not bad.

3. The drop in the reported unemployment rate

Represented people GIVING UP looking for jobs.

Does this show people are stupid--they get more confident if someone tells them something, rather than if they really get a job?

Sad.

Dan

[RUexperienced]

4. We are not going to get a Democrat elected by hoping the

economy does not improve. We have better issues to run on than that.

The economy needs confidence for investment and consumer purchasing to happen. After that, guess what will happen?

How many companies are going to hire employees if their stock is in the tank and consumers show no signs of purchasing their product?

[spinbaby]

5. Let the cheerleading begin

n/t

[daleo]

6. Interesting how carefully this was phrased

"and unemployment declined"

"the general tone of the job market and the expectation that jobs are available out there."

unemployment declined - because of increase in discouraged workers, not more jobs

general tone of job market - a phrase with no specificity

expectation that jobs are available - not a statement that they are available, just a statement about expectations, which are based on a misinterpretation of December numbers

[PassingFair]

7. Black is White

Good is Bad.

Gotta keep breathing...