+the+state.jpg)
.
.
The Associated Press:
WASHINGTON (AP) — Consumer sentiment rose more than expected in August, an indication that Americans’ pessimism about the economy may be lifting.
The New York-based Conference Board says its Consumer Confidence Index rose to 54.1 from an upwardly revised 47.4 in July. Economists surveyed by Thomson Reuters had expected a slight increase to 47.5. Still, the index is far below 90, the minimum level associated with a healthy economy.
Economists closely monitor confidence because consumer spending accounts for about 70 percent of United States economic activity. Consumer sentiment — fueled by signs the economy is stabilizing — has recovered a bit since hitting a record-low of 25.3 in February.
Showing posts with label spending. Show all posts
Showing posts with label spending. Show all posts
Tuesday, August 25, 2009
Thursday, August 13, 2009
US market: retail & unemployement data for July
.
.
WASHINGTON (Reuters) - Sales at U.S. retailers unexpectedly fell in July and the number of workers filing new claims for jobless benefits rose last week, indicating the recession-hit economy faced a bumpy recovery.
A Commerce Department report on Thursday showed total retail sales edged down 0.1 percent after increasing 0.8 percent in June, compared with market forecasts for a 0.7 percent gain.
A separate report from the Labor Department showed first-time applications for state unemployment insurance benefits climbed 4,000 to a seasonally adjusted 558,000 last week.
The retail sales data cast a shadow over an anticipated rebound in consumer spending in the current quarter. Spending, which accounts for over two-thirds of U.S. economic activity has been pressured by high unemployment.
In the United States, the decline in July retail sales was partially caused by gasoline station sales falling 2.1 percent, reflecting a retreat in gasoline prices during the month, after surging 6.3 percent in June.
Excluding gasoline, retail sales nudged up 0.1 percent.
Consumer spending fell at a 1.2 percent annual rate in the second quarter after edging up 0.6 percent in the January-March period. Despite signs the worst recession in over 60 years was winding down, companies have been reluctant to hire, though the pace of layoffs has slowed down markedly.
.
WASHINGTON (Reuters) - Sales at U.S. retailers unexpectedly fell in July and the number of workers filing new claims for jobless benefits rose last week, indicating the recession-hit economy faced a bumpy recovery.
A Commerce Department report on Thursday showed total retail sales edged down 0.1 percent after increasing 0.8 percent in June, compared with market forecasts for a 0.7 percent gain.
A separate report from the Labor Department showed first-time applications for state unemployment insurance benefits climbed 4,000 to a seasonally adjusted 558,000 last week.
The retail sales data cast a shadow over an anticipated rebound in consumer spending in the current quarter. Spending, which accounts for over two-thirds of U.S. economic activity has been pressured by high unemployment.
In the United States, the decline in July retail sales was partially caused by gasoline station sales falling 2.1 percent, reflecting a retreat in gasoline prices during the month, after surging 6.3 percent in June.
Excluding gasoline, retail sales nudged up 0.1 percent.
Consumer spending fell at a 1.2 percent annual rate in the second quarter after edging up 0.6 percent in the January-March period. Despite signs the worst recession in over 60 years was winding down, companies have been reluctant to hire, though the pace of layoffs has slowed down markedly.
Subscribe to:
Posts (Atom)
