9/19/2011

Consumer views on the economy increased in September after falling in August to an almost three-year low, according to recently released figures from University of Michigan/Thomson Reuters. "The rot seems to have stopped, but the level of the index remains very low and is still consistent with outright falls in consumer spending," according to Ian Shepherdson, chief U.S. economist at High Frequency Economics. "That said, consumers' spending clearly is not falling -- it will likely rise at a 2% rate in Q3, up from 0.4% in Q2 -- so the sentiment numbers are not the last and definitive word."

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