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Tag Archives: Confidence

Consumer Confidence Up for 3rd Straight Month in June

Consumer confidence saw a sizable jump in June, the Conference Board reported in its monthly Consumer Confidence Survey. Based on responses to the Nielsen survey, the index improved for the third consecutive month to 81.4, the highest level since January 2008. May's index was revised downward to 74.3. The Present Situation Index increased to 69.2 from April's revised reading of 64.8, while the Expectations Index rose to 89.5 from the previous month's downwardly revised reading of 80.6.

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Confidence in Banks Rises to Post-Recession High

According to the results of Gallup's latest yearly poll, 26 percent of Americans surveyed said they have "a great deal" or "quite a lot" of confidence in banks, up from last year's low of 21 percent. While the share of confident Americans increase, the share of those expressing little or no confidence was down to 28 percent from last year's 35 percent, closing the gap further. The percentage of confident Americans is now at its highest point since June 2008 but remains well below its pre-recession level of 41 percent in 2007.

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Consumer Sentiment Recedes, Expectations Stay Strong

According to this month's first reading, the Consumer Sentiment Index has a value of 82.7, a turnaround from the 84.5 reading in May. An analysis from economist Amna Asaf at Capital Economics pointed to the "modest rebound in gas prices and the latest wobble in equity prices" as cause for the dip. However, Asaf noted the drop "reversed only part of the sharp gain of May." The Current Economic Conditions Index also declined, falling to 92.1. Meanwhile, the Expectations Index climbed to 76.7, a seven-month high.

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Americans’ Financial Worries Fall to 4-Year Low

The Consumer Reports Trouble Tracker Index, which measures the proportion of consumers that have faced financial difficulties and the number of events they've encountered, fell sharply from 41.7 in the last report to 34.0--the lowest level since the measure was created. As of the latest report, the tracker has fallen more than 50 percent from its reading of 68.7 in September 2009. At the same time, the index's employment measures showed job gains outpacing losses for the third straight month.

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Optimism Toward Buying, Selling Reaches Record Highs

According to Fannie Mae's May 2013 National Housing Survey, Americans expressed record confidence in price gains, with 55 percent--a survey high--saying they believe prices will go up in the next year. Only 7 percent of respondents in the survey expect prices to drop, the lowest level since the survey's inception. In addition, the average 12-month home price chance expectation was 3.9 percent, the highest level in the survey's history and a leap over April's 2.7 percent forecast.

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Construction Spending Up 0.4% in April

A Census report released Monday put construction spending at an estimated annual rate of $860.8 billion (seasonally adjusted) in April, a 0.4 percent rise from March's revised estimate of $857.7 billion. Spending on homebuilding was at an estimated yearly rate of $308.3 billion in April, 0.2 percent down from March but 18.3 percent above April 2012. The report is consistent with the National Association of Home Builders' Housing Market Index, which dropped in April as builders contended with low credit availability and rising costs.

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Consumer Sentiment Beats Expectations

Consumers in the latest Thomson Reuters/University of Michigan survey reported their most improved financial situation in more than five years, according to Surveys of Consumers. The group's Consumer Sentiment Index rose to 84.5 in May, its highest level since July 2007 and an improvement over the preliminary reading of 83.7. April's index reading was 76.4; May 2012's reading was 79.3. The survey comes only days after the Conference Board's latest index, which showed consumer confidence climbing to a five-year high in May.

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Consumer Confidence Trends Higher in May

The Conference Board's Consumer Confidence Index continued to improve in May as Americans recovered from the economic shocks that plagued the year's first few months. "Consumer Confidence posted another gain this month and is now at a five-year high," said Lynn Franco, director of economic indicators at the Conference Board. "Consumers' assessment of current business and labor-market conditions was more positive and they were considerably more upbeat about future economic and job prospects."

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