[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Immediate Use of Ivermectin Medicine Globally Can End COVID-19 Pandemic: Scientists

COVID Fraud – Lawyers & Medical Experts start legal proceedings against W.H.O and World Leaders for ‘Crimes against Humanity’

School Board Nazi struggles to breathe while she orders kids to wear masks…

Warren says she'll run for reelection to Senate

WiThheld rouTers ... The laTesT of many roadblocks --- To Arizona SenaTe's audiT of 2020 elecTion

Windham ResidenTs ... Refuse --- To Be Silenced

When Cruelty Actually Is The Point

Fauci's agency spent over $400k on experiments grafting aborted fetal scalps onto mice and rats

Who Is Bill Gates? (Full Documentary, 2020)

Here Is What Republican Voters Really Believe in. It's a Shame the GOP Has No Idea

guTTing america ... going back --- on Track

“The ElecTion is Over”... Trump HaTer Cindy McCain Trashes Arizona ElecTion AudiT ---“Ludicrous” (VIDEO)

DissidenT Episcopalians awarded $100 million worTh of property ... as U.S. Supreme CourT --- declines To Take up Fort WorTh case

Joe Biden needs to stop lying about the cause of the border crisis and start fixing it

George W. Bush says ... The Republican ParTy has a shoT aT fuTure elecTions if iT curbs --- iTs 'whiTe Anglo-Saxon ProTesTanTism' ( heriTage )

BREAKING EXCLUSIVE - TGP’s Jordan Conradson InTerviews AZ AudiT DirecTor Ken BenneTT — HUGE DEVELOPMENTS ... Including Plans To Triple OuTpuT --- QuesTions on Number of FraudulenT BalloTs (VIDEO)

Can Democrats Avoid a Wipeout in 2022?

Biden declares war on America -- literally

Former Trump assisTanT says ... 'freighT Train' of elecTion resulT audiTs coming --- 'The MAGA movemenT is demanding answers'

Tim Scott's 2024 Star Rises After Biden Rebuttal

“We Will Find MisTakes – IrregulariTies ... We Probably Are Going To Find OuTright Fraud” --- AZ GOP Chair Dr. Kelli Ward Give - UpdaTe on HisToric AudiT (VIDEO)

Australia security official warns nations are ‘beating drums’ of war amid Asia-Pacific tensions

Former Obama White House advisor Seth Andrew arrested, accused of stealing from charter school he founded

This is fo sucking funny ... Joe has no clue --- The dumbocrap leaders are in a hearT aTTack panic!!.

The voter suppression lie

War Room ... Rachel Maddow Is Worried abouT whaT AZ ElecTion AudiT will Find — She Knows Georgia Is NexT

Conspiracy Queen Rachel Maddow ... Panics Over --- ‘Dangerous’ Arizona Vote AudiT

‘True To iTs docTrine’ ... ConservaTives plan for a new church afTer UniTed MeThodism spliTs --- over homosexualiTy debaTe

Michael Eric Dyson - WhiTe People Can Help BLM ...by Holding RacisT RelaTives --- ‘To AccounT’ aT Thanksgiving

Derek Chauvin ... The GreaT --- WhiTe DefendanT

New Mexico state trooper executed by Mexican cartel member… Horrific Video

John Kerry in Earth Day wonderland

Democrats Are Cheaters

Derek Chauvin's FaTe ... Is Now in The Hands --- of The Jury

Fools' overture

Democrats Are Terrified of Georgia

Climate Media vs. Climate Science

Why We Black Leaders Support Voter ID Laws

Pelosi: ‘No Plans' to Bring a Court-Packing Bill to the House Floor – at This Time

B-1 Bombers Are Deploying To Norway For The First Time With An Eye On Nearby Russia And The Arctic

High School Coach Fired After Refusing To Enforce “Insane” Outdoor Masks During Sports

CNN Says Chinese-Style Fonts Are Racist

Gran Torino Denounced for Anti-Asian Racism

'It Is Still Not Safe To Go Outside,' Says Fauci's Head In A Jar In Year 2739

Biden Re-Ignites the Waco Fire

Over 500 White People Have Been Killed By Cops Since 2020. There Has Been No Rioting Over Those Deaths.

Buttigieg on Exaggerated Infrastructure Jobs Estimate: ‘I Should Have Been More Precise’

Videos - ChrisTians Tear Down MeTal Fences ... Denounce The Closure Of GraceLife Church --- Due To A COVID-19 ResTricTions

Pete BuTTigieg ... To evangelical vaccine hold-ouTs --- Maybe iT's parT of God's plan

TINHORN FLATS ... The Symbol of Modern Day America --- AgainsT Tyranny


Status: Not Logged In; Sign In

Business
See other Business Articles

Title: Retail, Auto Sales Advance as Consumers' Moods Improve
Source: Benzinga
URL Source: http://www.benzinga.com/news/12/11/ ... nce-as-consumers-moods-improve
Published: Nov 2, 2012
Author: Gene Balas
Post Date: 2012-11-02 11:30:33 by Brian S
Keywords: None
Views: 1145
Comments: 1

Despite Europe's problems, the “fiscal cliff” and other signs of global economic softness, the U.S. consumers appears to be unfazed. The Conference Board released its Consumer Confidence index on Thursday, the same day that major retailers reported same-store sales and automakers reported the number of new car sold in October. The three separate reports all paint a picture of a consumer that is powering ahead, albeit at a moderate pace.

To understand consumers' behavior, first consider their mood. The Conference Board's Consumer Confidence Index, which had increased in September, improved again in October and now stands at its highest since February 2008. The headline measure advanced to 72.2, up from 68.4 in September. The Present Situation Index increased to 56.2 from 48.7. The Expectations Index, which tends to be more correlated to future consumer spending patterns, rose to 82.9 from 81.5 last month.

In releasing the report, Lynn Franco, director of economic indicators at The Conference Board, said, “Consumers were considerably more positive in their assessment of current conditions with the improvements in the job market as the major driver.”

The index was created in 1985 with a reading of “100,” and in good economic times, levels above “90” tend to prevail, but one must focus on the improvement, not the level. Expectations for the future are more correlated to spending than are assessments of the economy's current state.

Consumers claiming business conditions are “good” rose to 16.5% from 15.3%, while those saying business conditions are “bad” edged down to 33.1% from 33.8%. Consumers' appraisal of the labor market was also more positive. Those stating jobs are “plentiful” increased to 10.3% from 8.1%, while those claiming jobs are “hard to get” declined to 39.4% from 40.7%.

Consumers were generally more optimistic about the short-term outlook in October. The proportion of consumers expecting an increase in their incomes edged up to 16.7% from 15.9 %. In broader terms, those anticipating an improvement in business conditions over the next six months increased to 21.4% from 17.9%, yet, at the same time, those expecting business conditions to worsen inched up to 15.1% from 14.5%. Consumers' outlook for the labor market was similarly mixed: Those anticipating more jobs in the months ahead increased to 19.2% from 18.1%, while those expecting fewer jobs increased to 20.3% from 18.7%.

However, given consumers' views of improving personal incomes, they spent more. The 17 retailers tracked by Thomson Reuters indicated sales growth of 4.3% growth in October from a year ago for same-store sales, or sales at stores open more than a year. This compares with an increase of 4.1% in October 2011. The retailers ended their fiscal October on Saturday, before Sandy reached the Northeast.

Meanwhile, U.S. auto sales also continued to climb in October despite the impact of Hurricane Sandy, and appear sufficient to provide a strong gain over 2011 for the industry. Auto makers said they expect the storm trimmed 25,000 vehicles off the month's sales, reducing the annualized selling pace for October to an estimated 14.4 million vehicles compared with a forecast 14.7 million pace.

Despite the natural disaster, the auto makers reaffirmed a full-year outlook for U.S. sales to rise to between 14.5 million and 14.7 million. Broadly, U.S. new auto sales for October were expected to rise 11% from a year earlier and fall 4.6% from the prior month, according to automotive information site Edmunds.com.

What remains to be seen, however, is how consumers may react to news of layoffs that companies have announced while reporting earnings results. Challenger Gray and Christmas announced that the number of planned layoffs by U.S. firms jumped 41.1% in October to the highest level in five months, but to be fair, this number includes more than 10,000 jobs in U.S.-owned auto plants in Europe. Employers announced 47,724 planned job cuts last month, up from September's 33,816, according to the report. This might illustrate a disconnect between consumers' improving moods and those of their more-circumspect employers.

Post Comment   Private Reply   Ignore Thread  


TopPage UpFull ThreadPage DownBottom/Latest

#1. To: Brian S (#0)

Channel Stuffing.

No one's buying.

The eurozone is about to fall to pieces. That will shake the global financial world to its core, including the US. There are estimates for countries that leave the currency union to see their GDP fall as much 40-50% in the first year. It's today all but certain that Greece needs a debt restructuring in which the EU and ECB will be forced to write off substantial parts of their holdings. For the incumbent politicians in the richer core countries that's about the last thing they want to explain back home. If only because they know full well that there's much more of that in the offing.

mcgowanjm  posted on  2012-11-03   9:30:07 ET  Reply   Trace   Private Reply  


TopPage UpFull ThreadPage DownBottom/Latest

[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Please report web page problems, questions and comments to webmaster@libertysflame.com