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Beijing early morning of October 27, the New York crude oil futures prices on Friday closed slightly higher, but there was a substantial decline in trading this week, mainly due to the recent economic data, released by the United States and other countries failed almost from the to stimulate demand expected role.
Day, the New York Mercantile Exchange (NYMEX), 12-month contract, light sweet crude rose 23 cents to close at $ 86.28 a barrel, or 0.3%. But in this week's trading, New York oil prices fell more than 4%.
Michigan consumer confidence hit a five-year new high is still worse than expected
Beijing on the evening of October 26, jointly published by Thomson Reuters and University of Michigan consumer confidence report for October, the final value of the confidence index hit a record high value to the end of 5 years, mainly due to the Americans on the economy prospects and personal finances more optimistic expectations. However, the index is still below market expectations.
University of Michigan Consumer Research Center, noted that the end of October consumer confidence index value of 82.6, more than in September, the final value of 78.3, the former record a new high since September 2007, the final value of the record. However, 82.6 is still lower than the accepted average estimate of 83 economists surveyed by Thomson Reuters, also lower than the initial value of 83.1 in October.
While the confidence index hit a new multi-year high, but the economic outlook is still facing haze. After the presidential election in early November, U.S. policy makers will face the problem of how to deal with government spending cuts and tax automatically. The consumer survey report released today shows that the political stalemate could lead to consumer confidence slumped to its speed will be quite the rally in the past few months.
In charge of the Consumer Research Center of the University of Michigan Library ting (Richard Curtin) pointed out in a statement: "whichever party wins the relevant legislation must be carefully handled Otherwise, the two parties at loggerheads over the suppression of consumer confidence last fall The debt ceiling impasse is no different. "
He also said: "Although the growth in consumer confidence will promote the upcoming year-end holiday season consumer spending growth, but it also means that confidence higher easily frustrated and reversal, which in turn will increase the post-election economic policy may the consequences of uncertainty. "
About two-thirds of consumers surveyed said Obama is expected to win in more than a week after the election. October consumer end of the present situation index value increased to 88.1 and 85.7 of the initial value. The consumer expectations index increased to 79, the highest since July 2007, higher than the initial value of 73.5 in October.
Consumers are also expected prices rose to decline. Consumers next year expected inflation rate decreased from 3.3% to 3.1% ,5-10-year inflation rate is expected to be reduced from 2.8% to 2.7%.
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