It's going to be interesting to see the employment numbers that are out this morning but this new AP-Ipsos consumer confidence report is pretty bad news for Bush. The numbers in August were 103.4 and the new September numbers are 97.4. The Bushies, who received the new employment numbers last night, have so far been quiet. Whether that means they are hoping to surprise everyone with good numbers or bracing themselves for disappointing numbers is not yet known. Any disappointment in the numbers is going to make Friday night even more interesting than expected. Industry expectations are for 150,000 new jobs though this period (Sept through Dec.) historically has the heaviest job cuts of the year.
"I think consumers have some caution," said Richard Yamarone, economist at Argus Research Corp. "It relates back to the slowing economy and the questionable job outlook and higher-priced energy as we head into the winter season."
Consumers cut back on their borrowing in August by the largest amount since the end of 1990. In recent weeks, mortgage rates have crept up.
