02/12/10

From CNBC

Consumer Sentiment Unexpectedly Slips in February
 

By: Reuters

U.S. consumer sentiment slipped in early February, with high unemployment expected to continue and with most looking for no gain in income or home values in the year ahead, a survey released Friday showed.


The Reuters/University of Michigan Surveys of Consumers said its preliminary index of sentiment for February was 73.7, down from 74.4 in late January but up from 56.3 a year ago.

The reading fell short of analysts' median expectation of a reading of 75.0, according to a recent Reuters poll.

The survey's gauge of current economic conditions was 84.1 in early February, the highest since March 2008. It was up from 81.1 in late January and above the 81.4 predicted by analysts polled by Reuters.

But the survey's barometer of consumer expectations dipped to 66.9, down from 70.1 in late January and short of the 70.9 forecast by analysts.

"Few consumers anticipated any significant declines in the jobless rate any time soon, and the majority expected recurrent economic weaknesses over the next several years," Richard Curtin, director of the surveys, said in a statement.

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Consumer Sentiment? Is that what used to be known as Consumer Confidence? How can that be slipping when we have a Con-man in the white house? Oh, okay. Well, why was it unexpected, he's been there for a year, does someone still believe in hope and change?

Something to think about: when Barry finally goes down, do you favor a civilian trial or a military tribunal for him?