U.S. Consumer Confidence Reported To Have Risen Further in October

By: Ian Campbell | Fri, Nov 2, 2012
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U.S. consumer confidence has just been reported as having risen in October to its highest level since early 2008.

What is wrong with this picture in the face of current levels of U.S.:

See approximate comparator numbers in the following table.

 

  March 2008 Sept/Oct 2012
U.S. Housing Prices (inflation-adjusted) $185,000 $165,000
Average Hourly Wage Rate $21.42 $23.58
Unemployment Rate 5.1% 7.9%

Sources: U.S. Housing Prices, Average Hourly Wage Rates, Unemployment Rates

I continue to think I have to be missing something, as I can't square increasing U.S. consumer confidence with the facts that U.S. consumers must deal with each day. I can only assume readers of this Newsletter are in the same quandary, as no one responded to my request to 'tell me what I am missing' when I requested them to do that a few days ago.

Topical References: Consumer Confidence Rises to Highest Level Since February 2008, from Real Time Economics, Kathleen Madigan, November 1, 2012 - reading time 1 minute. Also see US consumer confidence jumps to near five-year high, from BBC Business News, November 1, 2012 - reading time 3 minutes.

 


 

Ian Campbell

Author: Ian Campbell

Ian R. Campbell, FCA, FCBV
Economic Straight Talk

Through the Economic Straight Talk Newsletter Ian R. Campbell shares his perspective on the world economy, the financial markets, and natural resources. A recognized business valuation authority, he founded Toronto based Campbell Valuation Partners (1976), Stock Research Portal (2007) a source of resource companies market data and analytic tools, and Economic Straight Talk (2012). The CICBV* annually funds business valuation research in his name**. Contact him at icampbell@srddi.com.
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