{"id":3653,"date":"2011-02-26T05:29:19","date_gmt":"2011-02-26T12:29:19","guid":{"rendered":"http:\/\/www.jasonapollovoss.local\/?p=3653"},"modified":"2018-09-21T02:08:02","modified_gmt":"2018-09-21T06:08:02","slug":"consumer-confidence-at-a-three-year-high","status":"publish","type":"post","link":"https:\/\/jasonapollovoss.com\/web\/2011\/02\/26\/consumer-confidence-at-a-three-year-high\/","title":{"rendered":"Consumer Confidence at a Three Year High"},"content":{"rendered":"<p><span style=\"font-size: 16px;\">Yesterday morning Thomson\/Reuters and the University of Michigan reported the results of their U.S. consumer confidence survey.\u00a0 Here are the results:<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li><span style=\"font-size: 16px;\">The level of 77.5 marks the highest level attained in consumer confidence in three years.<\/span><\/li>\n<li><span style=\"font-size: 16px;\">Economists expectations were exceeded by 3.2 points, or around 5%<\/span><\/li>\n<li><span style=\"font-size: 16px;\">For the first time in six years consumers said that they were hearing more positive economic news than negative<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 16px;\"><strong>Analysis:<\/strong> This is very good news.\u00a0 Consumer spending makes up around 70% of the total U.S. gross domestic product (GDP) &#8211; as consumers go, so goes the entire economy.\u00a0 Not only that, but the U.S. consumer also drives the worldwide economy as U.S. citizens buy tremendous amounts of imported goods.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 16px;\">That the results exceeded economist expectations is also a sign that the figure is likely gaining momentum.\u00a0 I am not a big fan of extrapolating much from a single data point&#8217;s worth of information, but that economists were off by a statistically significant amount is a good sign.\u00a0 Additionally, that consumers are hearing more positive economic news than negative is also a very good sign as consumers are often very skittish.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 16px;\">Clearly the U.S. economy has not just left recession behind, but is also growing with increasing force and confidence.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 16px;\"><strong>Importance grade:<\/strong> 9; for all of the reasons described above, this is very good news.\u00a0 GDP is standing on ground that is firming.\u00a0 However, until the unemployment situation improves more rapidly I am reluctant to say that the U.S. economy is on firm ground &#8211; just &#8220;firming,&#8221; for now.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 16px;\">Jason<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yesterday morning Thomson\/Reuters and the University of Michigan reported the results of their U.S. consumer confidence survey.\u00a0 Here are the results: &nbsp; The level of 77.5 marks the highest level attained in consumer confidence in three years. Economists expectations were exceeded by 3.2 points, or around 5% For the first time in six years consumers [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-3653","post","type-post","status-publish","format-standard","hentry","category-the-blog"],"_links":{"self":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts\/3653","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/comments?post=3653"}],"version-history":[{"count":0,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts\/3653\/revisions"}],"wp:attachment":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/media?parent=3653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/categories?post=3653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/tags?post=3653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}