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Content about Consumer confidence

May 6, 2013
The Numbers: Consumer Confidence Rises on Signs of Growing Employment

CHICAGO — Consumers respond positively to better employment numbers, increasing home prices

CHICAGO — CONSUMER CONFIDENCE continues to grow, according to the latest Surveys of Consumers by Thomson Reuters and the University of Michigan. In the March survey, economists report higher confidence amid signs of growing employment, and increasing home prices also had consumers giving a thumbs up to the future.

“Although confidence dipped in early March, since the middle of the month consumers have expressed improved prospects for economic growth,” says Richard Curtin, Surveys of Consumers chief economist. “Two factors were responsible for the gains: Consumers discounted the administration’s warning about economic catastrophe following the cuts in federal spending, and consumers have renewed their expectations that job gains will accelerate in the months ahead.”

Curtin also says that while optimism like this has been seen before, recent gains look to be sustainable, with a lower unemployment rate and increases in consumer spending on the way.

February 21, 2013
The Numbers: Modest Economic Growth Reported While Unemployment Rate Holds Steady

CHICAGO — Consumer spending was up, with 2012 holiday sales somewhat higher than in 2011: Beige Book

CHICAGO — MANY EXPERTS, including the Board of Governors of the Federal Reserve System, report economic growth in recent months, albeit at a modest pace.

The 12 Federal Reserve Districts, in their January report, showed expanded activity since the previous Beige Book, with all 12 showing modest or moderate growth. Consumer spending was up, with 2012 holiday sales somewhat higher than in 2011. Ten districts reported steady or stronger automobile sales, and tourism activity was up across much of the nation. Transportation services in six of the districts showed increases, while manufacturing reports were mixed (six districts reported an increase and three reported a decrease). And real estate activity (for sales and rentals of existing homes) held steady or increased slightly in 11 districts.

THE INTERNATIONAL COUNCIL OF SHOPPING CENTERS reported an increase of 3.6% in the net operating income of U.S. shopping centers for 2012. The figure is 2.3% higher than 2011, and expenses were reported to be down by 0.1%.

January 28, 2013
The Numbers: Economy Adds Jobs in December but Unemployment Rate Unchanged

CHICAGO — Unemployment rate remains unchanged in the final month of 2012

CHICAGO — DECEMBER SAW THE NATION’S ECONOMY adding another 160,000 jobs, although the unemployment rate remained at 7.8%, according to the U.S. Bureau of Labor Statistics. Job numbers increased in the healthcare, food service, construction, and manufacturing industries.

“December’s report marks 34 straight months of private-sector job growth, which have added close to 5.8 million jobs,” says Secretary of Labor Hilda L. Solis. “For nearly three years, steady gains have occurred across different sectors of the economy, and December finishes a strong year of consistent growth with average increases of about 160,000 private-sector jobs per month in 2012.”

THE NON-MANUFACTURING SECTOR ALSO GREW in December for the 36th consecutive month, according to the latest Institute for Supply Management’s Non-Manufacturing Report on Business, with a report of 56.1% in December, which was 1.4 percentage points higher than the November figure.

October 25, 2012
The Numbers: Lower Unemployment Boosts Consumer Confidence

CHICAGO — Unemployment rate dropped to 7.8% in September, the lowest since January 2009

CHICAGO — STUNNING FORECASTERS, the unemployment rate dropped to 7.8% in September, the lowest rate since January 2009.

“Our nation's labor market added 114,000 non-farm payroll jobs in September,” Secretary of Labor Hilda L. Solis said in a statement. “Additionally, 86,000 more Americans found jobs in July and August than had been previously reported.”

SHOWING MODEST ECONOMIC GROWTH, the 12 Federal Reserve Districts of the Federal Reserve Bank reported consumer spending was generally good for the October report. Only the New York, Chicago and Kansas City districts reported flat or soft sales. Existing home sales were stronger in most districts, with prices steady or increasing, and overall loan activity was steady to stronger in most districts.

October 3, 2012
The Numbers: Economic Activity Improves While Unemployment Rate Drops

CHICAGO — Some indicators continue to show economic improvement, with consumer confidence gaining slightly

CHICAGO — ECONOMIC ACTIVITY CONTINUED TO IMPROVE in July and early August, according to the 12 Federal Reserve Districts in the latest Beige Book report from the Board of Governors of the Federal Reserve System.

Nine districts report modest economic growth, with two reporting slow growth and the 12th indicated mixed reports with some slowdown.

Retail activity, including car sales, had increased since the previous report, although the districts showed only slight increases. Several districts – Boston, New York, Richmond, Atlanta, Minneapolis and San Francisco – indicated that tourism was on the upswing.

The tourism increase was backed by a report from the U.S. Department of Commerce’s International Trade Administration. International visitors, according to the commerce report, have spent more than $82 billion on U.S. travel and tourism-related products since the first of the year, an increase of 11% from this time last year.

August 30, 2012
The Numbers: Signs of Slight Economic Expansion, but Consumer Confidence Slips

CHICAGO — Non-manufacturing sector shows growth for 31st consecutive month

CHICAGO — THE LATEST BEIGE BOOK REPORT, compiled by the Board of Governors of the Federal Reserve System with data from the 12 Federal Reserve Districts, shows that the U.S. economy continued to expand slightly in June and early July. Eleven districts noted expanding economic activity.

Early August brought news that the current administration had awarded $9 million in the multi-agency Rural Jobs and Innovation Accelerator Challenge. The program is designed to spur job and economic growth in rural regions. Economic development partnerships and initiatives in a dozen states—Alaska, Arkansas, Connecticut, Illinois, Kansas, Louisiana, Mississippi, New Hampshire, North Carolina, South Carolina, Virginia and West Virginia—will receive awards. Last year’s winners generated millions in matching funds, and their projects are expected to create thousands of new jobs and hundreds of new businesses, according to the U.S. Department of Commerce.

July 31, 2012
The Numbers: Opinions Vary on Meaning of Recent Employment Figures

CHICAGO — Most indicators show economic downturn in second quarter

CHICAGO — WHILE A POSITIVE SPIN came from Secretary of Labor Hilda Solis in July regarding the current state of the U.S. labor market, others were considerably more pessimistic.

In a statement, Solis says, “Our nation’s labor market added 80,000 jobs in the month of June, while the unemployment rate remained unchanged at 8.2%. We have seen 28 straight months of private-sector job growth, during which time our economy has added back close to 4.4 million private-sector jobs, with nearly one million jobs added this year.”

For the other side, Kathy Bostjancic, director of macroeconomic analysis with The Conference Board, a global, independent business membership and research association, comments, “The slow labor market improvement … once again confirms that the better payroll increases in the beginning of the year were another false start. The pullback marks the third straight disappointing year.”

March 8, 2012
The Numbers: Positive Outlook for Unemployment, Consumer Spending, GDP

CHICAGO — January ’s unemployment rate dropped to 8.3%

CHICAGO — JANUARY’S UNEMPLOYMENT RATE dropped to 8.3%, according to the U.S. Department of Labor, the lowest since February 2009.

“The economy added 257,000 private-sector jobs last month, exceeding expectations,” says Secretary of Labor Hilda L. Solis. “These numbers show that the labor market continues on a positive trajectory.

In response to the positive numbers, the Dow Jones jumped the day after the announcement while the Nasdaq index reached a level that hasn’t been seen since December 2000.

THE FEDERAL RESERVE DISTRICTS reported modest growth for December, indicating ongoing improvement in the country’s economy. Consumer spending increased in most of the 12 districts, showing strong holiday sales compared to that of 2010, and activity expanded in the travel and tourist sector as well.

January 9, 2012
The Numbers: Unemployment, Mortgage Applications, Pending Home Sales

CHICAGO — Helping to ring in a better new year are the Federal Reserve Board, the nation’s unemployment numbers and job growth, mortgage applications, and pending home sales.

ALL BUT ONE OF THE FEDERAL RESERVE DISTRICTS reported an increase in economic activity in a report filed Nov. 30. The districts saw a slow to moderate upward trend in consumer spending, with the strongest upticks occurring in vehicle sales and tourism dollars. Manufacturing activity and overall bank lending also increased slightly.

THE NOVEMBER JOBLESS RATE was down to 8.6%, according to the U.S. Department of Labor, with an estimated 120,000 jobs added—that’s the fifth month in a row to post 100,000 or more new jobs, a first since April 2006. However, a downswing in wages slightly offset that good news.

The department reports a decrease in the weekly seasonally adjusted unemployment claims in the week ending Dec. 3, as the number went to 381,000 from the previous week’s revised number of 404,000.

December 8, 2011
The Numbers: Jobs Growth Expectations, Mortgage Delinquencies, and Economic Policies

CHICAGO — A new report from NYSE Euronext provides some economic encouragement. Top executives for 62% of public companies and 71% of private firms expect to expand their businesses and add jobs in 2012, a move counter to growing uncertainty of the economy and political instability. This is the first report from NYSE Euronext to include private or emerging companies and MBA students that the NYSE dubs “aspiring corporate leaders.”

On the other end of the spectrum, the congressional so-called Super Committee failed to come to an agreement on a deficit reduction plan, leading to a drop on the stock market and continued debate as to the cause of the committee’s inaction. The main stumbling block appeared to be the continued tax cuts, rather than higher tax rates, for the upper tier of income earners.

September 22, 2011
The Numbers: Jobs, Mortgages, and Consumer Confidence

CHICAGO — Early September brought a new proposal—the Americans Jobs Act—from President Barack Obama, which includes incentives for small-business owners to aid in cutting taxes and adding employees.

The proposal cuts employer payroll taxes in half, offers a series of tax credits for companies that hire workers who have been unemployed for longer than six months, establishes an “infrastructure bank” to offer loans for private-sector projects, funds a variety of transportation projects, intends to modernize schools and vacant properties, extends unemployment benefits and subsidizes jobs training programs, pumps money into communities for teachers and first responders, and sets up a summer jobs program for teens.

The bipartisan super committee in Congress—tasked with finding ways to reduce the nation’s debt by December—was due to hear the president’s proposals on cutting debt later in the month.