Tag: consumer confidence

University of Michigan: Consumer Sentiment Declined Unexpectedly Again in March

The University of Michigan and Thomson Reuters said that consumer confidence unexpectedly slipped for the second straight month. The Consumer Sentiment Index has dropped from 98.1 in January to a revised 95.4 in February to 91.2 in March, according to preliminary data. The January figure had been the highest level in 11 years. Americans continue to be more positive today than one year ago, with the index measuring 80.0 in March 2014, and as such, the longer-term trend remains positive.

However, these data also suggest that the public remains anxious, mirroring the caution seen in recent retail sales data. The University of Michigan survey indicates some easing in both current and expected measures over the past two months. Final data will be released on March 27.

Chad Moutray is the chief economist, National Association of Manufacturers. 

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Monday Economic Report – March 2, 2015

Here is the summary for this week’s Monday Economic Report: 

While manufacturers remain mostly optimistic in their outlook, we have seen softness in a number of recent economic indicators. Slower economic growth internationally, a stronger U.S. dollar, reduced crude oil prices and the West Coast ports slowdown have been cited as reasons for this weaker-than-desired performance. Along those lines, real GDP growth in the fourth quarter was revised lower, down from 2.6 percent to 2.2 percent. In addition, surveys from the Dallas, Kansas City and Richmond Federal Reserve Banks all reflected decelerated levels of new orders and exports. Most notably, Texas manufacturers have been adversely impacted by the sharp drop in petroleum prices, dampening demand throughout the energy supply chain and for the larger regional economy. Yet, even in the Dallas report, respondents continued to be more positive than negative in their expectations for sales, production, employment and capital spending over the next six months. (continue reading…)

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Conference Board: Consumer Confidence Pulled Back in February

The Conference Board said that consumer sentiment fell sharply in February. The Consumer Confidence Index declined from a revised 103.8 in January to 96.4 in February. The January figure had been originally reported to be 102.9, and it was the highest point for this measure since August 2007. The decrease in attitudes in this report in February mirrored similar drops in perceptions in the most recent University of Michigan and National Federation of Independent Business surveys. Still, the depth of the pullback in February was larger than expected, and it suggests that the American public remains more anxious than desired. (continue reading…)

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Monday Economic Report – February 17, 2015

Here is the summary for this week’s Monday Economic Report: 

Recently, much of the discussion has been about the strength of the United States relative to many of its trading partners. Indeed, that continues to be the case for the most part, as noted in the latest Global Manufacturing Economic Update. Yet, last week, there was a bit of a shift, with better-than-expected economic growth in Europe and disappointing consumer spending and sentiment in the United States. The data points do not change the underlying trends, with manufacturers continuing to be mostly upbeat about future demand and production. However, it does suggest that economic activity has been softer in some areas than we had hoped as we begin 2015.  (continue reading…)

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Monday Economic Report – February 2, 2015

Here is the summary for this week’s Monday Economic Report: 

The U.S. economy grew 2.4 percent in 2014, just barely edging out the 2.2 percent gain in 2013. Yet, that somewhat understates the strength of the economy since the winter-related weaknesses seen at this point last year. Indeed, real GDP increased by an annualized 4.1 percent during the last three quarters of 2014, and in the fourth quarter, Americans spent at a healthy 4.3 percent annual pace, the fastest rate since the first quarter of 2006. Still, the 2.6 percent growth rate in real GDP in the fourth quarter also had some red flags. Weaker growth abroad, a strengthening U.S. dollar and worries about dramatically lower energy prices have impacted capital spending and international demand negatively. Therefore, while manufacturers remain mostly upbeat about orders and production in 2015, these developments serve as a reminder of the challenges in the global marketplace right now. (continue reading…)

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Conference Board: Consumer Confidence at Highest Level Since August 2007

Consumer confidence rose to its highest level since August 2007, just a few months before the start of the Great Recession. The Consumer Confidence Index from the Conference Board increased from 93.1 in December to 102.9 in January. The increase in perceptions was more than likely positively influenced by lower gasoline prices and better economic news of late. Indeed, the index of present conditions, which gauges sentiment on the current economic environment, jumped from 99.9 to 112.6. The forward-looking subcomponent also improved, up from 88.5 to 96.4. (continue reading…)

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Monday Economic Report – January 20, 2015

Here is the summary for this week’s Monday Economic Report: 

Financial markets around the world continued to react to the softening global economic environment. In particular, foreign exchange markets were rocked by news that Switzerland would no longer support its cap on the franc, where that currency has been seen as a safe haven, particularly against the euro. Almost immediately, the Swiss franc appreciated sharply against the euro and other currencies. For its part, the euro has continued to depreciate against the U.S. dollar, with one euro selling for $1.1581 on Friday. This was down $1.3927 on March 17, the high point of 2014, representing an appreciation of more than 17 percent for the U.S. dollar against the euro. These developments could hurt the ability of manufacturers in the United States to grow exports. (continue reading…)

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Monday Economic Report – January 5, 2015

Here is the summary for this week’s Monday Economic Report: 

Growth in manufacturing activity slowed somewhat in December, according to the Institute for Supply Management (ISM). The headline purchasing managers’ index (PMI) dropped from 58.7 in November to 55.5 in December, its lowest level in six months. Slower global growth, reduced commodity prices and the West Coast ports slowdown were cited in the ISM report as reasons for the decline. While this report was disappointing, it is notable that the lower figure followed several months of very healthy expansions in both new orders and production, and manufacturers were more upbeat at year’s end than earlier in the year. The manufacturing PMI data averaged 57.7 in the second half of 2014, an improvement from the 54.0 average observed in the first half. (continue reading…)

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Monday Economic Report – December 15, 2014

Here is the summary for this week’s Monday Economic Report: 

The biggest domestic economic news story last week was actually a global one: The price of petroleum continued to plummet. Since peaking at $107.95 per barrel on June 20, the price of West Texas Intermediate crude has fallen dramatically, down to $57.49 a barrel on Friday. There are a number of factors at play here, including increased North American energy production, excess supply worldwide, a stronger U.S. dollar and a slowing global economy. It is this latter point that has spooked financial markets, on fear that the weakened global demand for petroleum might be a harbinger of larger challenges. Indeed, as discussed in the most recent Global Manufacturing Economic Update, North America’s economy appears to be a bright spot in an otherwise sluggish international economic climate. (continue reading…)

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University of Michigan: Consumer Confidence Soared to its Highest Level Since January 2007

Preliminary consumer confidence numbers soared to their highest level since January 2007, according to the University of Michigan and Thomson Reuters. The Consumer Sentiment Index rose from 88.8 in November to 93.8 in December. Measures for the current (up from 102.7 to 105.7) and forward-looking (up from 79.9 to 86.1) economic outlook were both higher for the month. This data suggests that Americans were more upbeat in their assessments of the economy, perhaps boosted by improvements in the labor market and by cheaper gasoline prices. (continue reading…)

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