Consumers Feeling More Upbeat About Economy

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Consumers Feeling More Upbeat About Economy

Story Created: Sep 11, 2009 at 1:13 PM CST

Story Updated: Sep 11, 2009 at 1:24 PM CST

(BLOOMBERG MARKET UPDATE)--A preliminary read on confidence for September shows consumers fears about the economy are easing.

Results of a widely watched gauge of sentiment suggested consumers are more upbeat about the economy. The Reuters preliminary index increased to a better than forecast 70.2 this month from 65.7 in August. This as the pace of job losses slowed and the economy showed signs improving.

Consumer spending makes up 70 percent of the economy, and it looks like some of that spending contributed to U.S. game sales. Sony and Microsoft sold more game consoles in August after they cut prices, helping ease the overall decline in the video-game market. Fedex shares are higher today. The second-largest U.S. package-shipping company said its first-quarter profit was higher than it had forecast.

The results suggest shipping demand is starting to pick up as businesses add to inventory and consumers buy goods such as clothing and electronics. Finally, Twitter has changed its terms of service, and that could mean users will see advertising on the site. Ads would be placed in connection with content submitted by users, and is aimed at generating revenue.

Courtesy of Jane King, reporting from the New York Stock Exchange.

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