Consumer Confidence for December 2009 increased to 52.9 which is a 2.3 point increase from last month.
Expectations or what does the future hold increased to 75.6 from 70.3 in November.
But present situation confidence metric for December 2009, is 18.8, a drop from 21.2 last month and is at a 26 year low, with 1983 being the bottom reading of 17.5.
What is more interesting is people actually believe the jobs situation will be better in 2010.
The percentage of consumers expecting more jobs to become available in the months ahead increased to 16.2 percent from 15.8 percent, while those expecting fewer jobs decreased to 20.7 percent from 23.1 percent.
I don't know what this measures, maybe a spin-o-meter from the green shooters.
Job growth for the entire next decade is dire and so are the current forecasts for GDP in Q3/Q4 2010.
What this implies to me is if we do not have immediate and dramatic job growth and none but the most outliner forecasts are predicting that, people are going to crash and burn on expectations next year. What was that from Hoover's time? A chicken in every pot, prosperity is just around the corner?
Those claiming business conditions are "bad" increased to 46.6 percent from 44.5 percent, while those claiming conditions are "good" decreased to 7.0 percent from 8.1 percent.
Yet somehow, magically think everything will be ok in a few months.
Why? Historically, a value of 90 means the economy is perceived to be on solid footing.
Perhaps this below chart, from BeSpoke Investment Group might put the current values in historical context. Note the Consumer Confidence Range on the right hand side and notice the dips per recession.