Consumer Confidence Suffers Surprise Fall
2 mensagens
|Página 1 de 1
Surprise fall ?
Who was surprised ?
The guys who are hiding the facts from the small investor ?
Enronization continues free-wheel in the USofA !
The guys who are hiding the facts from the small investor ?
Enronization continues free-wheel in the USofA !
- Mensagens: 2713
- Registado: 22/4/2003 23:12
Consumer Confidence Suffers Surprise Fall
Consumer Confidence Suffers Surprise Fall
Tue July 29, 2003 10:03 AM ET
NEW YORK (Reuters) - U.S. consumer confidence suffered a sharp and unexpected fall in July as worries over rising unemployment took a heavy toll, the Conference Board reported on Tuesday.
The Conference Board's monthly consumer confidence index slid to 76.6 in July from 83.5 in June, the lowest since March. The reading completely confounded analysts, who had looked for an improvement to 85.0.
The expectations index slumped to 86.4 from 96.4, while the present situation index fell to 61.9 from 64.2, the group said in a statement.
"The rising level of unemployment and sentiment that a turnaround in labor market conditions is not around the corner have contributed to deflating consumers' spirits this month," said Lynn Franco, director of the Conference Board's Consumer Research Center.
"Expectations are likely to remain weak until the job market becomes more favorable," Franco added. The index that measures jobs hard-to-get rose to 33.1 percent in July from 31.9 percent in June.
Earlier this month the University of Michigan's survey of consumers found a slight improvement in July, with its sentiment index rising to 90.3 from 89.7 in June.
But a weekly survey by ABC News/Money Magazine showed scant sign of a lightening in consumers' gloomy mood.
Analysts noted that in recent years, there has been little correlation between what consumers tell surveys and what they actually do with their money. Even the gloomiest responses have not stopped people buying cars and homes at a record pace.
Tue July 29, 2003 10:03 AM ET
NEW YORK (Reuters) - U.S. consumer confidence suffered a sharp and unexpected fall in July as worries over rising unemployment took a heavy toll, the Conference Board reported on Tuesday.
The Conference Board's monthly consumer confidence index slid to 76.6 in July from 83.5 in June, the lowest since March. The reading completely confounded analysts, who had looked for an improvement to 85.0.
The expectations index slumped to 86.4 from 96.4, while the present situation index fell to 61.9 from 64.2, the group said in a statement.
"The rising level of unemployment and sentiment that a turnaround in labor market conditions is not around the corner have contributed to deflating consumers' spirits this month," said Lynn Franco, director of the Conference Board's Consumer Research Center.
"Expectations are likely to remain weak until the job market becomes more favorable," Franco added. The index that measures jobs hard-to-get rose to 33.1 percent in July from 31.9 percent in June.
Earlier this month the University of Michigan's survey of consumers found a slight improvement in July, with its sentiment index rising to 90.3 from 89.7 in June.
But a weekly survey by ABC News/Money Magazine showed scant sign of a lightening in consumers' gloomy mood.
Analysts noted that in recent years, there has been little correlation between what consumers tell surveys and what they actually do with their money. Even the gloomiest responses have not stopped people buying cars and homes at a record pace.
- Mensagens: 35428
- Registado: 5/11/2002 12:21
- Localização: Barlavento
2 mensagens
|Página 1 de 1