Friday, May 1, 2009

Consumer sentiment up following March rally

Following the March rally, consumer sentiment is up significantly according to the latest Michigan survey. The latest numbers indicate sentiment is at a recession-busting 65.1, up from March's number of 57.3 and significantly ahead of consensus numbers at 61.5. Of course, the cynics among us will attribute it to a lagging indicator that is likely to add further fuel to the fire that is the March bear rally.

What is interesting is the number of people who expected unemployment to rise, fell from 61% to 53%; the impact of these numbers are up for debate. Most likely though, it's going to end in tears as those who changed their minds between last month and this month are likely to be dismayed when the "green shoots" get stamped out. 
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