Tags: Rasmussen | Consumer | Confidence | Highest | 2008

Rasmussen: Consumer Confidence Highest Since 2008

Friday, 03 Dec 2010 02:22 PM

Consumer confidence is at its highest in more than 2½ years, according to Rasmussen Reports.

The Rasmussen Reports Consumer Index for November hit 84.3, its highest mark since February 2008 but still below the baseline month of October 2001, just after the 9/11 terrorist attacks.

Despite the optimism, only 10 percent polled felt the economy was in good or excellent shape, and only 34 percent are that upbeat about the overall economy.

Furthermore, 31 percent of the respondents said the economy was getting better, while 46 percent believe it was worsening.

While the those numbers may seem bleak, they are slightly up from a year ago when 27 percent said things were getting better and 49 percent felt otherwise.

The consumer-confidence index compiled by the Conference Board, an industry group, rose in November to its highest level in five months, thanks to improving labor-market conditions, according to the various newswires.

Even if unemployment rates aren't back to pretty much where everyone would like to see them, higher consumer confidence should mean more open wallets in the coming weeks, which is good for the economy.

It's also good news for retailers this holiday season.

"Consumer confidence is now at its highest level in five months, a welcome sign as we enter the holiday season," says Lynn Franco, director of the Conference Board's consumer-research center, according to the AFP newswire.

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Consumer confidence is at its highest in more than 2½ years, according to Rasmussen Reports. The Rasmussen Reports Consumer Index for November hit 84.3, its highest mark since February 2008 but still below the baseline month of October 2001, just after the 9/11...
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2010-22-03
Friday, 03 Dec 2010 02:22 PM
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