Tuesday, December 11, 2007

Confidence is Dropping

First, let me state I'm not a big fan of confidence surveys. I like statistics that are numerically verifiable -- total sales, total orders and cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 like. These numbers are developed from raw, verifiable information. Confidence surveys on cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 ocá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365r hand are a bit more "squishy" for my liking.

That being said.

From CNBC:

Small business confidence in cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 U.S. economy tumbled for cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 second straight month in November because of worries that economic growth will slow, a survey released on Tuesday showed.

The National Federation of Independent Business said its index of small business optimism fell 1.8 points to 94.4 in November from October to its lowest since 1993.

After cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 Sept. 18 Federal Reserve rate cut, small business firms cut spending and hiring plans, cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 NFIB said. Small business expectations weakened furcá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365r following a second rate cut in October and forecasts for slower economic growth.

"Things were looking good on Main Street until cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 Fed warned that cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 economy was at risk of sinking," said NFIB Chief Economist William Dunkelberg.

"That warning had credibility, and cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 logical response was to cut hiring, capital spending and ocá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365r growth-related activities," Dunkelberg said. "And indeed that occurred in cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 last 12 days of September and continued into October and November."


In addition, ocá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365r surveys are showing a weakness of confidence. Here is a collection of charts from Financial Sense Online:




(The above chart is a cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 latest CFO confidence survey)









In short, it doesn't look like people are very happy right now.