This is about as surprising as the unemployment rate magically dropping under 8 percent so close to the election:
U.S. consumer sentiment unexpectedly rose to its highest level in five years in October as consumers became more optimistic about the overall economy in a possible boost to President Obama’s reelection hopes next month.
The Thomson Reuters/University of Michigan’s preliminary October reading on the overall index on consumer sentiment came in at 83.1, up from 78.3 the month before, and the highest since September 2007, the survey showed on Friday.
It was well above the median forecast for a slight decline to 78 among economists polled by Reuters.
The new buoyancy among consumers comes shortly after the U.S. unemployment rate tumbled to its lowest level in nearly four years in September as more people returned to the workforce and found jobs than economist had predicted.
Read what you will into this sudden appearance of good news for Obama, but it’s worth noting that this survey is from a company called Thomson Reuters, which has a CEO who is an Obama donor:
As a matter of fact, the company is loaded with Obama and Democrat donors. Check it out for yourself. Go to OpenSecrets and type “Thomson Reuters” in the employer search box. Search for 2008 through 2012. The search I did returned 395 donations from Thomson Reuters employees totaling around a quarter million dollars, including the above Obama donation from their CEO. There are a scant few Republican donations in the mix, but for the most part it looks as if probably around 90 percent of donations from Thomson Reuters employees went to Obama, other Dems and prog PACs.
Nope, no chance of any bias from this survey.
Update: Earlier I got an email positing a different theory: Maybe the above data isn’t fudged at all and consumer sentiment is actually going up because Americans are sensing The One might be leaving the White House soon. Something to think about.