Fresh Paint
Friday, March 12, 2004
Well, Duh (part 2)
Consumer Sentiment Slips Unexpectedly:
The University of Michigan's preliminary reading of consumer sentiment slipped to 94.1 in March from a final reading of 94.4 in February, said market sources who saw the subscriber-only report.
Economists had forecast a slight improvement to 95.0, after a dramatic decline in the index in February.
'These confidence surveys are reflecting what people are reading -- that the economy is not creating jobs,' said Avery Shenfeld, senior economist at CIBC World Markets.
I continue to be amazed by these startled and naive folks who keep believing that the tooth fairy will leave a dime under the pillow, as Bush seems to keep promising.

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