The latest
AP-Ipsos consumer confidence survey shows a big jump over last month. In general, consumers are feeling much better as time passes and the current
economic recovery gains momentum. The report mentions the enormous improvement in consumer sentiment in the last year:
| The early March reading of 97.7, when compared to the same month a year ago, highlights just how
far consumers have come. A year ago, as the war in Iraq (news - web sites) broke out, consumer confidence sank to 61.4, the lowest reading recorded
since Ipsos started the index in January 2002.
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Another important point brought out by the article is Federal Reserve Chairman Alan Greenspan's thoughts on the allegedly sluggish job market:
| "We could get a pop in employment at any time"
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Lots of good news for America and President Bush!
Update: Well, all is not rosy for America nor President Bush. Reader
James R Martin points to the Right Track question in
the same poll from Ipsos. It is indeed confusing that consumer sentiment has risen so much even while poll participants view America's track negatively by a
whopping 60-35% margin. Those who are familiar with my projection formula know these numbers bode ill for the President in
the next polling data update.
posted by Scott Elliott at 8:25am 03/05/04 ::
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