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Honestly I don't see how it rose to begin with.
Recession "officially" over for 1.5 years. Business is booming but not in the US.
Consumers were out in force Xmas shopping so it didn't seem to bother them.
Gas at its highest in 2 years.
Lots of opposing data points being thrown about in the news. Who knows where we really stand.
Even though 'they' say this Christmas was the highest in gross sales since 2007, this is only a one to two month span. We'll see how 'things' are actually going in the upcoming year. A 9.8%, up from 9.6%, (15 million+) unemployment rate that shows no signs of decreasing isn't really all that comforting. Don't hold your breath people.
"Confidence" is the dumbest metric I think I've ever in encounteded in 6 years of studying economics. Oh my God, not even John Maynard Keynes was that dumb.
People still do not have complete confidence, no surprise here is it. I watched 4 different news channels today, each one had very disturbing news, that home values are going to plunge double dip figures down down and down. This really is not good news, our home values are going down in double dip figures, not me talking the news media. Also they said 2011 will not be looking good for unemployment, for that to will be going up, with many still to lose their jobs, this has not made me very happy at all. Home values are already at a low, how much lower can they get. How can people gain confidence in buying, when a job is on the line, or a home soon to go into foreclosure.
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