Archive for consumer confidence

Gallup: U.S. Self-Reported Spending in August Best in Five Years

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galspend

But... but... President Obama is a loser! He's moving too fast/slow on Syria. Damn ditherer.

PRINCETON, NJ -- Americans' self-reported daily spending averaged $95 in August, up from $89 in July. The latest spending estimate is the highest Gallup has measured in any month since a $99 reading in September 2008.

Gallup asks Americans on its Daily tracking survey to report how much they spent the prior day, excluding household bills and major purchases like a car or home. The data give an estimate of discretionary spending.

Gallup's spending measure has generally been trending upward since late 2012. From 2009 until November 2012, the monthly averages were consistently below $80. That "new normal" period in spending, tied to the sluggish economy and high unemployment rate, represented a dramatic change from 2008, the first year Gallup asked the question. In 2008, each monthly estimate exceeded $80, including four months with averages above $100.

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Quickie- US consumer sentiment reaches 6-year high in July

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goodnews1

God forbid this should interrupt the daily march of doom and gloom. Harumph.

WASHINGTON — Americans are more confident about the economy than at any time since July 2007, a survey found, suggesting consumers will spend more and accelerate growth in the months ahead.

The University of Michigan said Friday that its final reading of consumer sentiment in July was 85.1. That's up one point from June but nearly 13 points higher than a year ago.

Rising home prices and steady job gains are boosting household wealth and income. The proportion of Americans who expect their inflation-adjusted incomes to rise in coming year is greater than at any time since late 2007, the survey found. And the percentage of Americans who say their home values have risen is also at a six-year high.

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Need a little good news? Consumer confidence jumps in June, new home sales at highest level since July ’08

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blame obama

Today's news cycle is driving me to drink. Well, more than usual, anyway. So it's time for a little upbeat news via, of all places, Fox Biz and a flurry of emails from them to my inbox:

The Conference Board reports consumer confidence rose to 81.4 in June from 74.3 in May – beating estimates of 75.4.

The Commerce Department reports sales of new, single-family homes rose 2.1% in May from April to an annual rate of 476,000 units. Wall Street expected sales to come in at an annual rate of 462,000 units. The reading was the highest since July 2008.

Home prices in 20 major U.S. metropolitan areas climbed 2.5% in April from March, on a non-seasonally adjusted basis, topping expectations of a 1.1% gain. Prices were up 12.1% from the year prior, beating forecasts of a 10.6% jump.

The markets are jumping as traders cheer a round of strong U.S. economic data and commentary suggesting global central banks will continue easing for a long time to come. The Dow is up 107 points, or 0.73%, while the broader S&P 500 is up nearly 1%. Every major sector is in the green, led by cyclical stocks.

The Commerce Department reports orders for long-lasting goods jumped 3.6% in May from April, topping expectations of a 3% gain. Excluding the transportation segment, orders rose 0.7% compared to expectations it would hold steady.

blame obama Bush's fault

There. That should hold us for... about five minutes or until the next abysmal Supreme Court decision.

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Stocks surge in early trading after positive reports on housing market and consumer confidence

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goodnews1

No wonder the R's have to look for made up scandals and overreach on the real problems.

U.S. stocks surged in early trading as investors digested stellar economic data that appeared to put the housing and financial crises far in the rearview mirror. The Dow Jones Industrial Average rose by more than 200 points, or 1.4%. The Standard & Poor’s 500 index rose 1.4%. The Nasdaq gained 1.6%.

One of the reports powering the markets showed that U.S. home prices posted their strongest gains since 2007. According to the S&P/Case-Shiller national index, prices rose 10.2% in the first quarter.

In another report, consumer confidence surged to a five-year high in May, fueled by increased optimism about an improving job market. The Consumer Confidence Index, which gauges how consumers feel about the economy each month, rose to 76.2 in May -- its highest reading since February 2008, according to research firm the Conference Board.

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U.S. Consumer Spending in December Highest in Four Years, Economy adds 155,000 jobs

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galconf

Up, always up!!!

(CNN) - The U.S. economy created 155,000 jobs in December and the unemployment rate was unchanged at 7.8%, according to a report from the Labor Department.

Not to be forgotten-

PRINCETON, NJ -- Americans were in a generous mood when it came to spending this past December, as they reported spending an average $83 per day in stores, online, and in restaurants, excluding household bills and a home or car purchase. That is up from $73 in November and the highest monthly figure Gallup has reported since December 2008. It is also the first reading above the $80 mark since the 2008-2009 recession.

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GDP Growth Revised Upward To 3.1%

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goodnews

It may seem slow, but at least we're getting somewhere. Aren't the wingers always griping about the GDP? There's a tasty one for them to chew on.

Economic output grew at an annual rate of 3.1 percent in the third quarter, the Commerce Department reported today. That figure is the third and final estimate of last quarter's GDP growth, and it represents a boost from a previously reported 2.7 percent.

A variety of factors contributed to economic growth last quarter, including consumer spending, federal government spending, and residential fixed investment, which includes home purchases and renovations. The department reports that the new estimate does not substantially change the broader portrait of the nation's economy, though new data do show that consumer spending is showing a "modest pickup," while imports, which subtract from GDP, are falling off.

"In a real sense, I think what this number does is it ratifies the employment reports we've been seeing," says Joel Naroff, president and chief economist at Naroff Economic Advisors. Unemployment was at 8.3 percent in July, but by the end of the quarter in September, it had fallen to 7.8 percent. A growth rate of 3.1 percent is more congruous with that kind of labor market improvement than the Commerce Department's initial estimate of 2.0 percent, says Naroff.

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Quickie- U.S. Economic Confidence in November Best in Four Years

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Always nice to see.

PRINCETON, NJ -- Americans' economic confidence was better in November than in any month since Gallup began tracking confidence daily in January 2008. The -13 Economic Confidence Index score surpasses the previous bests of -17 from October and May of this year. The index, which began at -32 in January 2008 as the recession was taking hold, had been -20 or lower until May.

The higher November economic confidence scores were helped by a -10 in the week leading into the Nov. 6 election, the best weekly average to date in Gallup tracking. But confidence was generally stable throughout the month, with the weekly averages in November ranging from -10 to -15. Confidence has remained relatively stable even as the "fiscal cliff's" major tax increases and spending cuts loom unless the government can come to an agreement in the coming weeks.

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