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Tag Archives: Conference Board

Brighter Outlook Props Up Consumer Confidence in April

The Conference Board Consumer Confidence Index, which took a hit in March as the first effects of the sequester were felt, increased from 61.9 to 68.1 in April, the firm reported. Consumers were considerably more upbeat about the near future than they were in March. The Conference Board's Expectations Index improved to 73.3 in April, a jump from 63.7 the prior month. While more respondents also expressed confidence in their assessment of current conditions, monthly gains were only moderate.

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Consumer Confidence Staggers in March as Sequester Hits

The Conference Board's Consumer Confidence Index fell to 59.7 from February's reading of 68.0 (which was revised down from 69.6). The decline wipes out most of the gains observed last month and brings the index to its second lowest reading so far this year. According to Lynn Franco, director or economic indicators at The Conference Board, the retreat in consumer confidence was driven primarily by a sharp decline in respondents' economic outlook, "although consumers were also more pessimistic in their assessment of current conditions."

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Consumer Confidence Rebounds in February

After taking a hit from January's payroll tax hike, consumer confidence recovered somewhat in February, according to The Conference Board's Consumer Confidence Index. The overall index climbed more than 10 points in February, settling at 69.6 from January's 58.4. Lynn Franco, director of economic indicators at The Conference Board, said February's increase reflects the fading "shock effect" from January's fiscal cliff uncertainty and the expiration of payroll tax cuts.

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Conference Board: Consumer Confidence Crashes in January

Consumer confidence took another dive in January as Americans saw their paychecks shrink, The Conference Board reported Tuesday. The research firm's Consumer Confidence Index--based on a survey conducted by Nielsen--fell to 58.6 in January, down from 66.7 at the end of 2012. Lynn Franco, director of economic indicators at The Conference Board, said the drop stems from consumers' "paycheck shock" after seeing how the payroll tax increase has affected their bank accounts.

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Bank Shares Soar on Europe’s Grand Debt Bargain

Bank shares lifted in the enthusiastic market response to news that European Union states reached a grand bargain to save the euro, but analysts speaking with MReport pare jubilation with forecasts for fewer refinance applications and home purchases. After two years of time spent in a debt crisis, European leaders cobbled together a third bailout measure to salvage debt-ridden Greece and prevent further peril for the continent├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós common currency.

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Mortgage Rates Unchanged from Week Earlier

Mortgage rates largely remained near historic lows from the week earlier, reflecting a sense of uncertainty that continues to persist among wary homebuyers. Bankrate.com denoted a new low for the benchmark 30-year fixed-rate mortgage, which fell from 4.38 percent last week to crest at 4.33 percent this week. Finance Web site Bankrate.com and mortgage giant Freddie Mac polled financial institutions and the like in their weekly surveys. Freddie differed by few turns, signaling the loss of one percentage point this week.

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