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Consumer gloom suggests Obama victory: survey September 5, 2008

Posted by trouble97018 in Economy, McCain, News, Obama, Politics.
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Fri Sep 5, 11:34 AM ET

NEW YORK (Reuters) – Democratic presidential candidate, Sen. Barack Obama, should benefit from consumers’ dissatisfaction with the weak national economy, according to Reuters/University of Michigan Surveys of Consumers.

A close correlation exists between the cycles in the Index of Consumer Sentiment and presidential elections, the survey group said.

Over the past half century, nearly all presidential elections occurred in years in which the Sentiment Index was near its cyclical peak.

The two exceptions were 1980 and 1992, when confidence was near cyclical lows, and the incumbents Jimmy Carter and George H.W. Bush lost their re-election bids. Source Article

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