Cleaning & Restoration Breaking News

Consumer Sentiment Rises Once Again

December 13, 2002
/ Print / Reprints /
/ Text Size+
NEW YORK (Reuters) - U.S. consumer sentiment rose for a second month in early December as Americans shrugged off a spike in joblessness in November and took heart that the struggling economy and stock market may be stabilizing.

The improvement in sentiment, which topped analysts' expectations, is a good omen for the crucial holiday shopping season, which runs through the end of December.

The rise may also boost optimism that consumer spending, which drives two-thirds of the U.S. economy, will stay strong. But analysts cautioned a still-weak job market and the specter of a U.S. war on Iraq could weigh on future confidence.

"This is good news, coming at the best of possible times for retailers," said Christopher Low, chief economist at securities firm FTN Financial in New York. "Consumers are already spending more than they did late in the third quarter, especially on things other than autos, and this report suggests further improvement in the last month of the quarter."

The University of Michigan's preliminary December consumer sentiment index rose to 87.0 from a final reading of 84.2 in November, market sources who have seen the report said on Friday. That was above consensus forecasts for a rise to 85.0.

The current conditions index, which correlates most closely with spending, rose to 95.9 in early December from 93.1 in November. The expectations index, which tracks attitudes about the 12 months ahead, rose to a preliminary 81.2 from 78.5.

U.S. Treasuries fell after the data were released while stocks, which traded broadly lower, only cheered the news briefly before resuming their decline. The dollar, also lower against major currencies, reacted little to the report.

Did you enjoy this article? Click here to subscribe to i Cleaning Specialist Magazine.

You must login or register in order to post a comment.



Image Galleries

The 2014 Experience Conference and Exhibition

A look in photos at the 2014 Experience Conference and Exhibition, which was held from April 24-26 at the Embassy Suites Convention Center and Spa in Frisco, Texas.

1/27/15 2:00 pm EST

Grow Your Business and Improve Operations with New Payment Technology

Attend this free webinar to learn how new developments in payment technology can help you close more jobs, increase upselling opportunities and improve operations.


The winter slow season is a great time to pursue commercial cleaning accounts and stay busy. John "the Hitman" Braun solicited questions from thousands of cleaners across the country regarding their questions on commercial cleaning accounts and answers them in this episode of the show.
More Podcasts

ICS Cleaning Specialist Magazine


2014 Nov/Dec

The Nov/Dec ICS features content on how to get better meter readings, a roundtable on truckmount development, neighborhood marketing and more. Also included is the annual Buyer’s Guide and Directory.

Table Of Contents Subscribe

Janitorial Work

In addition to residential and commercial carpet cleaning, do you do any janitorial work on the side?
View Results Poll Archive


The Carpet Cleaner's Book of Unlimited Success! (ebook)

Don’t worry about the recession or about your competition.  Now you can be the owner of over 400 ways for carpet cleaning professionals to make more money and get more jobs!

More Products


Director_Buyer.jpgThe premier resource and reference guide for the cleaning and restoration industries.

Click here to view


facebook_40.png twitter_40px.png youtube_40px.pngcrc logo


Truckmount.jpgEquipment listings and specifications from the leading industry manufacturers.

Click here to view