Tuesday, January 10, 2012

Confidence Grows, but Remains In Recession Territory

The economy is still weak. And if there is any financial turbulence the whole thing will come crashing down again. And then there will be no helping the economy:

Today, two new indicators provide yet more evidence that Americans are feeling better about the economy. Gallup reports that Americans' economic confidence is at a seven-month high. The National Federation of Independent Business reports that small business confidence is also up for the fourth straight month. Likewise, the most recent Reuters/University of Michigan Index of Consumer Sentiment has shown four straight months of improvement. And the Conference Board's Consumer Confidence Index jumped more than 9 points, to 64.5, in December.

Yet while confidence is definitely trending upward in recent months, levels appear to be mired in recession territory, long after the recession ended.
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