Archive for consumer spending

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



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.


U.S. jobless claims fall to 346K; consumer income, spending up; pending home sales jump to highest since Dec. '06


obama worst socialist ever

Fox Biz continues to send me email alerts that I feel compelled to share with you... because they prove that President Obama is the worst. Socialist. Ever:

U.S. weekly jobless claims fell to 346,000 from an upwardly revised 355,00 the week prior. Claims were expected to fall to 345,000 from an initially reported 354,000.

Consumer spending rose 0.3% in May from April, matching economists’ estimates. Personal income climbed 0.5%, more than the 0.2% Wall Street expected.

The National Association of Realtors reports signed contracts to buy previously owned homes jumped 6.7% in May, far higher than the 1% increase expected. The increase brought pending home sales to the highest since December of 2006. The gauge was up 12.1% from the same month in the year prior.

Traders are bidding equities sharply higher for the third day in a row as caution over the Federal Reserve’s exit from its bond-buying program ebbs. The Dow is up 100 points, or 0.67%, while the broader S&P 500 is up 0.61%.



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



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.


GDP Growth Revised Upward To 3.1%



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.