If You’re Not Petrified, You’re Not Paying Attention
The green shoots story took a bit of hit this week between data on April retail sales, weekly jobless claims and foreclosures. But the whole concept of the economy finding its footing was “preposterous” to begin with, says Howard Davidowitz, chairman of Davidowitz & Associates.”We’re in a complete mess and the consumer is smart enough to know it,” says Davidowitz, whose firm does consulting for the retail industry. “If the consumer isn’t petrified, he or she is a damn fool.”
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U.S. consumers’ mood rises in early May
NEW YORK (Reuters) – U.S. consumer confidence rose in early May to its strongest since the September failure of Lehman Brothers, with rising expectations the economy may be in the last stages of the recession, a survey showed on Friday.
The Reuters/University of Michigan Surveys of Consumers said its preliminary index of confidence for May rose to 67.9 from 65.1 in April. This was above economists’ median expectation of a reading of 67.0, according to a Reuters poll.
Well, that settles it I gues. The average US consumer is a damn fool. What a surprise.