Consumer Sentiment Rises To Five Year High

Once again, queue the conspiracy theorists!  First unemployment drops to 7.8% and the right freaks out, then jobless claims drop and the right freaks out, now we have consumer sentiment reaching a five year high.

Somebody tell me how all these thing culminated in one month?  Is it all conspiracy? 

"The Thomson Reuters/University of Michigan's preliminary October reading on the overall index on consumer sentiment came in at 83.1, up from 78.3 the month before, marking the highest level since September 2007." CNBC is reporting.

"What changed was how (consumers) evaluated economic conditions," survey director Richard Curtin said in a statement. "Economic conditions during the year ahead were expected to be 'good' by more consumers, and more consumers expected 'good' economic times over the next five years."

The survey's barometer of current economic conditions rose to 88.6 from 85.7 and was above a forecast of 86.
The survey's gauge of consumer expectations jumped to 79.5 from 73.5, above an expected reading of 74. Expectations were at their highest since July 2007.

You know what drives consumer sentiment? Jobs and an improving economy.  If the two other numbers weren't real and were a mass conspiracy to re-elect President Obama, consumer sentiment would be remaining level or dropping.

Instead this poll indicates that the two prior economic reports from the Bureau of Labor and Statistics are true and the economy is doing better and people are feeling more confident.  So, Donald Trump, Jack Welch and all the other conspiracy Right wing radicals can put their tin foil hats away and come out from under their  bunkers.


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