Consumer Confidence Lowest Since Late 2015
Source: Marketwatch
Consumers confidence fell in May to the lowest level since late 2015 as Americans turned slightly more pessimistic about overall business conditions and the job market, a survey shows.
The consumer confidence index dropped to 92.6 from a revised 94.7 in April, the nonprofit Conference Board said Tuesday. Thats the lowest level since November and well below the postrecession high of 103.8 set in early 2015.
Economists polled by MarketWatch had expected the index to increase.
Although Americans continue to be cautious about the economy almost seven years into a recovery, their spending habits show that they are somewhat more upbeat than the confidence report suggests. In April, for example, consumer spending rose at the fastest rate since 2009.
Read more: http://www.marketwatch.com/story/consumer-confidence-lowest-since-late-2015-2016-05-31
tonyt53
(5,737 posts)elleng
(131,414 posts)Source: USA Today
Consumers emerged from their winter hibernation with zeal in April as consumption gains hit a nearly seven-year high and provided a shot in the arm to economic growth in the second quarter.
In the first quarter, consumption growth was meager as Americans socked away their solid income gains. Some economists blamed unseasonably warm weather that curtailed heating demand and a pullback in auto sales.
But in April, households splurged across the board. Car buyers led a 2.2% surge in purchases of long-lasting durable goods. Demand for clothing, food and gasoline drove a 0.7% jump in nondurable goods spending. And services consumption rose a solid 0.4%.
With spending outpacing income growth, the savings rate fell from 5.9% to a still healthy 5.4%.
Read more: http://www.usatoday.com/story/money/business/2016/05/31/economy-consumer-spending-personal-income/85182502/
GeorgeGist
(25,327 posts)SkyDaddy7
(6,045 posts)What they answer on a survey has more to do with what they hear on the AM radio dial & at a Trump rally!
Kelvin Mace
(17,469 posts)I always see contradicting headlines.
Purveyor
(29,876 posts)whatthehey
(3,660 posts)Measuring sentiment and spending are two different things, and even while a correlation is quite plausible, sentiment would be a leading indicator, not a concurrent metric.