2012 Economic Calendar
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Consumer Confidence  
Released On 12/27/2012 10:00:00 AM For Dec, 2012
 PriorPrior RevisedConsensusConsensus RangeActual
Consumer Confidence - Level73.7 71.5 70.0 64.8  to 79.0 65.1 

Highlights
The consumer confidence report shows hard evidence that the fiscal cliff is hurting the consumer's assessment of economic conditions. The index fell 6.4 points this month to 65.1 with weakness centered in the post-cliff outlook, that is the expectations component which plunged nearly 15 points to 66.5. The assessment of the present situation actually is up, rising nearly 5-1/2 points to 62.8 which is by far the best reading of the recovery!

And the assessment of the current jobs market is a highlight of the report with only 35.6 percent describing jobs as hard to get which is down sizably, nearly two percentage points from the prior month. More also describe current business conditions as good and fewer describe conditions as bad.

But what is bad is the outlook six months out where fewer see jobs rising and many more see jobs falling. More also see a decrease in their income ahead, at 18.7 percent vs November's 15.6 percent which is a big jump for this reading that underscores the fiscal cliff effect.

Tangibly hurting the consumer's spirits is the fiscal cliff where headlines are now running that the Democratic leadership in the Senate expect the nation to fall over the cliff. The Dow is lower in early trading.

Consensus Outlook
The Conference Board's consumer confidence index rose to a new recovery high of 73.7 in November from an upwardly revised 73.1 in October. Strength was centered in the expectations component which was up 1.1 points to 85.1. The present situation component was down one tenth to 56.6. Holding down the present situation were flat readings on the current jobs market with 38.8 percent of consumers still saying jobs are hard to get which was unchanged from October.

Definition
The Conference Board compiles a survey of consumer attitudes on the economy. The headline Consumer Confidence Index is based on consumers' perceptions of current business and employment conditions, as well as their expectations for six months hence regarding business conditions, employment, and income. Three thousand households across the country are surveyed each month. In general, while the level of consumer confidence is associated with consumer spending, the two do not move in tandem each and every month. Why Investors Care
[Chart]
Typically retail sales will move in tandem with consumer optimism - although not necessarily each and every month.
Data Source: Haver Analytics
 

2012 Released Schedule
Released On: 1/312/283/274/245/296/267/318/289/2511/111/2712/27
Release For: JanFebMarAprMayJunJulAugSepOctNovDec
 


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