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Entries in Consumer Confidence (13)

Tuesday
Jul312012

Consumer Confidence Climbs Higher

Ingram Publishing/Thinkstock(WASHINGTON) -- After four months of declines, consumers showed in July that they are more hopeful about the economy, according to the Conference Board.

The Board's latest reading, released Tuesday, is the highest since April and better than economists had expected. Though still below the level of a healthy economy, the consumer confidence index inched higher in July to 65.9 from 62.7 in June.

A brighter outlook for short-term hiring offset longer-term worries about the economy. Still, consumers are less hopeful about earning potential.  Expectations for income increases dropped to 14.2 percent in July to 15.3 percent in June.

Copyright 2012 ABC News Radio

Wednesday
May302012

Consumer Confidence Slips in May

Comstock Images/Thinkstock(WASHINGTON) -- Consumer confidence dropped to 64.9 in May, according to the latest index compiled by private research group The Conference Board.

Last April, the index was up to 68.7 with hopes that falling gasoline prices would push the measure up past 70 this month.  However, less pain at the pump didn't translate into more confidence among the 500 Americans who were surveyed for the index.

They continue to see home prices slip, employers reluctant to make big hires, savings depleted by a lackluster month on Wall Street and ongoing problems with Greece threatening to leave the Eurozone.

A healthy economy would show the Consumer Confidence Index at 90.  The last time that happened was December 2007.  Just over a year later, with the Great Recession taking full hold of the economy, it slipped down to under 30.

Copyright 2012 ABC News Radio

Tuesday
Mar272012

Stocks Fall with Dropping Consumer Confidence

Hemera/Thinkstock(NEW YORK) -- A drop in consumer confidence Tuesday helped push the markets down after a few days of gains.
 
The Dow lost 44 points, while the Nasdaq and S&P dropped two and four points, respectively.
 
Higher gas prices may be what has Americans feeling less confident about the economy.  The Conference Board's latest consumer confidence index fell last month.  It reached its highest level in a year just last month.
 
As for home prices, they are lower in most major U.S. cities for a fifth month in a row. The Standard & Poor's/Case Shiller index finds home prices down from December to January in 16 of the 19 cities tracked.
 
Copyright 2012 ABC News Radio

Tuesday
Nov292011

Stocks Continue to Climb with Consumer Confidence

Comstock/Thinkstock(NEW YORK) -- A jump in consumer confidence sent both the Dow and the S&P higher Tuesday, though the Nasdaq lagged a little and ended the session with a loss.
 
The Dow and the S&P closed up 33 and three points, respectively. The Nasdaq dropped 12 points.
 
An important gauge shows more people are feeling a little better about the economy. The Conference's Board's Consumer Confidence Index rose 15 points to 56 in November -- up from 40.9 the month before. Anything above 50 indicates growth.
 
Cyber Monday isn't just for shopping at work anymore. Consumers are using smartphones and tablets to cash in on holiday deals. PayPal says there was a 514 percent increase in mobile payment volume over the same time last year.

Copyright 2011 ABC News Radio

Wednesday
Sep282011

Are Americans Being Too Gloomy on Economy?

Comstock Images/Thinkstock(NEW YORK) -- As the stagnant economy slogs on, unemployment lingers, and Wall Street jitters continue, it's no surprise that consumer confidence is still low.  The latest survey from the Conference Board shows it fell flat in September -- up only 0.2 points from August -- as Americans continued to give negative ratings on the economy and business conditions.

But, some experts say consumers may be being too gloomy in how they view the country's economic standing.

Brian Hamilton, the CEO of the financial information firm Sageworks, says most American businesses are in better shape today than 18 months ago.

"We are finding that demand is higher, sales are higher," he says.

Despite the improvement, Hamilton says consumers still have a very negative view of the economy and so do the media.

"There's a lag in confidence media coverage against data," he notes.  "Data is getting better but yet the coverage and the mood of people tends to be sort of flat."

Copyright 2011 ABC News Radio

Wednesday
Aug312011

Consumer Confidence Crashes in August

Comstock Images/Thinkstock(NEW YORK) -- August isn't over yet but consumers have spoken: their confidence in the economy this month is way, way down.

Tuesday's survey from the New York-based Conference Board found that the Consumer Confidence Index in August was 44.5.  That's a drop of 15 points from 59.2 the previous month.

Consumer confidence hasn't been this low since April, when the economy was still reeling from the recession and the financial crisis.  In comparison, an index number of 90 indicates the economy has stabilized.

The Conference Board blamed the long debate in Washington over raising the debt and fears of defaulting on the government's bills for the first time for the erosion of confidence.  The downgrading of the nation's credit rating by Standard & Poor's also didn't help matters.

While confidence was shrinking, ironically, the Commerce Department reported that consumer spending was up 0.8 percent in July, the best showing in five months.

In August, Americans also said they'd be buying more cars and big appliances than they did in July.

Copyright 2011 ABC News Radio

Wednesday
Jun292011

Consumer Confidence Slumps to Seven-Month Low

Brand X Pictures/Thinkstock(NEW YORK) -- American consumers remain skittish about the economic recovery more than two years after the biggest recession in decades finally ended.

The Conference Board reported Tuesday that consumer confidence, the most important indicator of how people feel about the U.S. economy, was down to 58.5 in June, down from 61.7 in May.

June's numbers represent a seven-month low in consumer confidence that can be attributed to rising energy and food prices, the still weak housing market and unemployment hovering at around nine percent.

In summing up consumer woes, economist Mark Vitter said, "We have a fairly weak economy with little to no job growth.  With consumers so worried about their job prospects, I’m not so sure that we can count on demand picking up.  The housing market is dead in the water."

Consumer spending represents about 70 percent of the gross domestic product.  During good times, confidence stands at about 90 or above.  During the height of the recession, it was down to under 30.

Copyright 2011 ABC News Radio

Tuesday
May312011

Stocks End the Month with Gains

Comstock/Thinkstock(NEW YORK) -- The markets are finally rising after a month of declines.

The Dow closed up 128 points, the Nasdaq added 38 and the S&P gained 14 Tuesday.

The increases come despite a couple of pessimistic reports on the economy.  The Conference Board's latest Consumer Confidence Survey shows we're not so optimistic about the recovery -- especially when it comes to jobs and inflation.

That said, prices at the pumps are dropping.  Private surveys are showing the national average is down 6 cents to $3.37 a gallon.

Copyright 2011 ABC News Radio

Tuesday
Apr262011

Stocks Up Tuesday; Consumer Confidence Improving

Comstock/Thinkstock(NEW YORK) -- Stocks are on the rise again. The Dow closed up 115 points, the Nasdaq gained 22 and the S&P added 12 Tuesday.

It's a good time to buy a home.  To sell one, however...not so much.  The latest S&P/Case Schiller index of 20 cities shows prices fell an average of three percent from February of 2010 to February of this year.  Many home lenders are still feeling more than a little shaky.

And new data from the Conference Board's Index of Consumer Confidence shows Americans aren't as worried about jobs and inflation as they were a month ago.  Consumer confidence is up to 65.4.  But economists say the economy is not considered healthy until consumer confidence reaches 90.

Copyright 2011 ABC News Radio 

Tuesday
Mar292011

Stocks Recover at Close Despite Slumped Consumer Confidence

Comstock Images/Thinkstock(NEW YORK) -- Stocks rose Tuesday despite less-than-encouraging readings on home prices and consumer confidence.  The Dow closed up 81 points, the Nasdaq gained 26 and the S&P added nine.

It's getting more expensive to fill your car -- and your grocery basket.  The Conference Board says soaring gas and food prices pushed the consumer confidence index down to 63.4 this month, ending five months of improvement.

Homes are still a bargain.  The S&P/Case-Schiller 20-city index says prices were down in 19 of the 20 cities it surveys.

Copyright 2011 ABC News Radio







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