Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Market
Consumer confidence ticks up
NEW YORK (2/14/14)--Although dismal weather seems to abound, there is a sunnier picture being painted of consumer confidence, according to the most recent Bloomberg Consumer Comfort Index (CCI).

Bloomberg reported Thursday that for the first time in five weeks, Americans are feeling a bit more upbeat about the nation's economy.  In fact, CCI increased to minus 30.7 in the week ended Feb. 9, up a good bit from minus 33.1 the prior period. Also of note is that one measure of the state of the economy jumped to the highest level it's been since September.

So what's behind the boost in outlook?  Bloomberg posits that for high-income earners it was likely last week's rebound in stock prices. For others it may have been reports of faster job creation, which comes hand in hand with stronger wage growth.  That in turn boosts consumer spending, which Bloomberg notes accounts for 70% of the economy.


RSS





print
News Now LiveWire
Registration lottery for #CreditUnion #CherryBlossom Ten Mile Run opens Monday, Dec. 1 http://t.co/AGkKPof5Fy. Race is April 12
9 hours ago
The turkey hasn't even been served and #creditunions are already making plans for #GivingTuesday
10 hours ago
.@bankofamerica's $16.65 billion 'toxic mortgage' settlement finalized http://t.co/BIq1QyImXG
12 hours ago
RT @CUNA: #NussleReport: ICYMI: Revised RBC proposal in January w/a 90-day comment period #Fix RBC http://t.co/T4JcvWBDse
14 hours ago
.@TheNCUA release on Nov. prohibition orders out already. Here: http://t.co/YkA1QIYbYa
14 hours ago