Content tagged “Consumer confidence”

American consumer confidence decreases to four-month low

Confidence among U.S. consumers unexpectedly declined in September to a four-month low as Americans' views of the labor market deteriorated. As Bloomberg reports, The Conference Board's index decreased to 86 this month, weaker than the most pessimistic forecast in a Bloomberg survey of economists, from an August reading of 93.4 that was the strongest since October 2007, the New York-based private research group says today. The median forecast called for 92.5. The monthly decline was the biggest since October, when a partial shutdown of the federal government weighed on confidence. Sentiment may have trouble advancing to higher levels without faster income growth that's sustained over time, one part of the labor market that has been lagging behind. At the same time, gains this year in payrolls and higher stock prices will probably help keep household spending, which makes up almost 70% of the economy, from faltering.

Consumer confidence increases more than forecast

Consumer confidence in the U.S. climbed more than projected in December as Americans' views of current economic conditions jumped to the highest level since April 2008, Bloomberg reports. The Conference Board's index rose to 78.1 from a revised 72 a month earlier that was stronger than initially estimated, the New York-based private research group said today. The median forecast in a Bloomberg survey called for a gain to 76. Americans are growing upbeat about the economy as household finances improve on the heels of more hiring, rising property values and stock market gains. Increased optimism along with greater wealth will help underpin the consumer spending that makes up almost 70% of the economy, the report said, providing a boost to the expansion. Another report today showed home prices in 20 U.S. cities rose in October from a year ago by the most in more than seven years. The S&P/Case-Shiller index of property prices climbed 13.6% from October 2012, the biggest 12-month gain...