Consumer Sentiment Improves

We got some good news today with the improvement in the Michigan consumer sentiment index. The index rose to 70.2 from 65.7, which was higher than consensus. This is very important because we need improving consumer sentiment to show up in consumer spending.

Also, a survey of economists by the Wall Street Journal found that most believe the economy will start adding jobs over the next 12 months. The unemployment rate, however, isn’t expect to peak until 2010.

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