Cheaper fuel boosts US shoppers - Ajarn Forum

mrsquirrel · 30th November 2005, 12:08

Anybody else find it suspicious that the US was having panics over low fuel reserves people were spending less it was going to be a black christmas then all of a sudden they have more than they thought.

Sounds like tricks to me.

Quote:

Originally Posted by BBC

Cheaper fuel boosts US shoppers

The mood amongst US consumers is improving
US consumer confidence leapt in November, boosted by falling gasoline (petrol) prices and improved job prospects, according to a report.

The Conference Board research group said its US consumer confidence index jumped to 98.9 from 85.2 in October.

Economists had expected the closely-watched barometer of consumer attitudes to show a level closer to 90.

November's increase followed a drop in gasoline prices, which had soared in the wake of Hurricane Katrina.

Holiday season

The shock of the hurricanes and subsequent leap in gas prices has begun wearing off just in time for the holiday season

Lynn Franco, Conference Board

Katrina damaged a number of major oil refineries along the US Gulf coast when it struck at the end of August.

In the immediate aftermath of the hurricane, global oil prices hit record highs.

"A decline of more than 40 cents (a gallon) in gasoline prices this month and the improving job outlook have combined to help restore consumers' confidence," said Lynn Franco, director of the Conference Board consumer research centre.

The better-than-expected consumer confidence data for November followed two months of declines for the index, and came ahead of the key Christmas shopping season.

"While the index remains below its pre-Katrina levels, the shock of the hurricanes and subsequent leap in gas prices has begun wearing off just in time for the holiday season," Ms Franco said.

"Despite this latest boost in confidence, holiday spending will be driven by the bargains consumers have come to expect."

ElectrO · 30th November 2005, 13:07

What gets me, is how a few shitty oil refineries in the US affected the whole world. This proves its all bollox, oil prices are bollox. The reason they went high, because the few thousand people who benefit from owning oil. One of course is that great wanker Bush, as well as many of his associates. America can if it wanted produce more oil/fuel, but refuses to do so. Just like diamonds and gold. Artificially high prices, only XX amount allowed to be released per year, so it keeps up the demand. The sooner oil runs out the better. People will have to convert their en gines to run on Ethanol which is easily obtainable through any plant. oil is so outdated, but I know economies run on it. They can change this if they wanted, but everyone passes the buck onto the next person.

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dongintheklong · 30th November 2005, 13:49

Quote:

The mood amongst US consumers is improving

That's all that matters in the Country of the Enslaved.

theent01 · 30th November 2005, 16:06

well, dong, enslaved might be a tiny bit harsh. We can leave anytime we want to! I did, and I know plenty of americans who are anything but slaves. They were just born there, not their fault. If you want to surround yourself with freethinkers in america, it is definitely doable.

MisterStretch · 30th November 2005, 16:37

And if you want to surround yourself with nationalistic, discriminatory, mud-slinging folks you can hang out with a bunch of expats in the LoS.

Milkman · 30th November 2005, 22:12

It's one of the few things an American can focus on: shopping.

And don't forget the credit card.

Storekeeper · 1st December 2005, 07:33

Just doesn't fit with all the doom and gloom preached in this forum.