Word: bernard
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...Conference Board reports Tuesday that its index of consumer confidence jumped to 117 in March from a revised 109.2 in February, topping expectations of a slide to 105. The big question: Why? TIME senior economics reporter Bernard Baumohl explains...
...With reporting by Bernard Baumohl and Carole Buia/New York, David S. Jackson/Los Angeles, Marc Hequet/St. Paul and Douglas Waller/Washington...
...Bernard Baumohl: No. The LEI, first of all, is not the most respected gauge among economists - it's not thought to be all that accurate. But these days, analysts will jump on any indicator, so the LEI certainly had an impact...
...Bernard Baumohl: Well, they look around and see the U.S. and the rest of the world slowing down economically, and they expect demand for oil to slow along with the global economy. So to avoid a glut that could push down oil prices, they're cutting back to keep prices at a level where they still turn a healthy profit...
...Bernard Baumohl: Well, it's something that could still change, but after February's Michigan numbers, which were revised up, I count this as the second straight rise in consumer confidence after several months' slide. It seems to suggest that perhaps the worst may be over in terms of consumer sentiment, which is critical to the length and breadth of this slowdown...