Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Market
Consumer sentiment wanes, slows spending
WASHINGTON (3/31/14)--Consumer confidence shriveled a bit this month as the University of Michigan index of consumer sentiment fell 1.6 points to 80, just as analysts had expected for March (Moody's March 28).

The reading is the lowest since November.

Persistent wintry weather, concern over turmoil overseas, patchy job growth and rising gas prices all may have contributed to the dour mood (MarketWatch March 28).

Economists look to consumer confidence--or sentiment--to gauge the direction of consumer spending, the force that largely drives the economy.

Meanwhile, the economic expectations subcomponent fell 2.7 points, also the lowest reading since November. Buyers expect prices to rise 3.2% over the next 12 months, the same line of thinking as in February. Shoppers also project inflation to rise 2.9% on average over the next five years.

However, despite more of the same cool economic numbers reported of late, analysts still believe the data will rebound in the coming months as the weather warms.

Buyers should have their faith restored in the recovery, according to Moody's, as news of an improving economy rolls in.


RSS print
News Now LiveWire
Tech. advances don't dampen consumer #cybersecurity concerns #NewsNow http://t.co/HNn4Hojadv
10 hours ago
.@TheNCUA board unanimously voted today to designate board member Rick Metsger as vice chairman, effective immediately.
11 hours ago
We really want to hear from our readers. Please take the News Now survey: http://t.co/BYiQ5vr5Ob
12 hours ago
Advanced technologies don't quell cybersecurity fears #NewsNow http://t.co/ZJ20bimRvv
13 hours ago
.@CentralMaineCom reports #creditunions have issued thousands of new cards to proactively protect members from Home Depot data breach.
14 hours ago