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.


Don't underestimate the value of a good Internet marketing plan. In fact, if you do this right, it's not uncommon to see ROI along the lines of 30-to-1. Here's a look at 27 free and low-cost tips that you can begin implementing within your cleaning business today to drive more business.
More Podcasts

ICS Cleaning Specialist Magazine


2014 September

The September issue of ICS features stories on moisture detection, disinfectant services, neighborhood marketing, then we discuss the last level of being phenomenal, and cool products.

Table Of Contents Subscribe

Social Media

Social media is a good way to regularly keep in touch and interact with current clients and reach potential ones. What social mediums do you use in your cleaning/restoration business?
View Results Poll Archive


Get Paid! book cover
Get Paid! (ebook)
Over 30 authors – over 40 articles…from attorneys, contractors, consultants, instructors and others, both inside and outside the restoration industry. R & R, C & R and Cleanfax, opened their archives and gave us the best they had, other chapters were created just for the “Get Paid!” book and its readers. And every one of them has ideas for how to get paid what you are owed.

More Products


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

Click here to view


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

Click here to view


facebook_40.png twitter_40px.png youtube_40px.pngcrc logo