MBS MID-DAY: Defending Weakest Levels After Opening Higher

– Confidence +70.3 vs +60.3 consensus
– present situation +50.2 vs +46.5 previous
– expectations +83.7 vs 71.1 previous
– Highest headline and expectations since February.

The Conference Board Consumer Confidence Index®, which had declined in August, improved in September. The Index now stands at 70.3 (1985=100), up from 61.3 in August. The Expectations Index increased to 83.7 from 71.1. The Present Situation Index rose to 50.2 from 46.5 last month.

The monthly Consumer Confidence Survey®, based on a probability-design random sample, is conducted for The Conference Board by Nielsen, a leading global provider of information and analytics around what consumers buy and watch. The cutoff date for the preliminary results was September 13.

Says Lynn Franco, Director of Economic Indicators at The Conference Board: “The Consumer Confidence Index rebounded in September and is back to levels seen earlier this year (71.6 in February 2012). Consumers were more positive in their assessment of current conditions, in particular the job market, and considerably more optimistic about the short-term outlook for business conditions, employment and their financial situation. Despite continuing economic uncertainty, consumers are slightly more optimistic than they have been in several months.”

Article source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/275917.aspx

Leave a Reply

WP Facebook Auto Publish Powered By : XYZScripts.com
Bunk Beds