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Consumer sentiment in U.S. rises
Consumer confidence rose in March as Americans were more satisfied than any time in 16 years with the current state of their finances and the economy, while remaining sharply divided along party lines about the outlook. The University of Michigan said Friday that its preliminary index of sentiment increased to 97.6 from 96.3 in February. The median projection in a Bloomberg survey called for 97, with estimates ranging from 95 to 100. The index of current conditions jumped three points to 114.5, the highest reading since November 2000. For more, click here...
Fed raises interest rates
For the second time in three months, the Federal Reserve increased its benchmark interest rate a quarter point Wednesday amid rising confidence that the economy is poised for more robust growth. The move, widely anticipated by financial markets, takes the overnight funds rate to a target range of 0.75% to 1% and sets the Fed on a likely path of regular hikes ahead. Despite a well-telegraphed move, news of the rate hike pushed government bond yields lower while major averages in the stock market moved higher. For more, click here...
U.S. Consumer Price Index rose 0.1% in February
U.S. consumer prices rose at a slower pace in February. Clothing and housing costs rose last month, while motor vehicle and gasoline prices dipped. The Labor Department says consumer prices rose 0.1% in February, a sharp deceleration from the 0.6% jump in January. For more, click here...
Canadian economy blows away forecasts
The Canadian economy outperformed expectations in the final three months of 2016 by generating growth at an annual rate of 2.6%. Statistics Canada’s latest report on real gross domestic product says the biggest contribution to the fourth-quarter increase came from household consumption, which rose at an annual rate of 2.6%. For more, click here...
Yellen signals Fed likely to raise interest rates this month
Federal Reserve Chair Janet Yellen signaled Friday that the Fed will likely resume raising interest rates later this month to reflect a strengthening job market and inflation edging toward the central bank's 2% target rate. Yellen also said in a speech prepared for delivery in Chicago that the Fed expects steady economic improvement to justify additional rate increases. While not specifying how many rate hikes could occur this year, Yellen noted that Fed officials in December had estimated that there would be three in 2017. For more, click here...
Consumer confidence ticks higher in February
Consumers' assessment of current conditions in the U.S. increased in February, according to a monthly survey released on Tuesday. The Consumer Confidence Index hit 114.8 in February, according to data from The Conference Board, the highest since July 2001. Economists expected the Consumer Confidence Index to hit 111 in February, according to a Thomson Reuters consensus estimate. "Consumers rated current business and labor market conditions more favorably this month than in January," Lynn Franco, director of economic indicators at The Conference Board, said in a statement. For more, click here...
Consumer confidence dips in February
Consumer confidence fell for the first time since November’s election, as party lines divided Americans following a boost in enthusiasm for economic policies under President Donald Trump. The University of Michigan said Friday that its final index of sentiment for February dropped to 96.3 from January’s 98.5, which was the highest since 2004. That compares with the median projection of 96 in a Bloomberg survey and a preliminary reading of 95.7. For more, click here...
U.S. consumer sentiment cooled in February
Consumer confidence retreated in February from a 13-year high as Americans tempered expectations of their finances and the economy, with sentiment remaining sharply divided among party lines. The University of Michigan said Friday that its preliminary index of sentiment cooled to a three-month low of 95.7 from 98.5 in January. The median projection in a Bloomberg survey called for 98. For more, click here...
U.S. consumer confidence declined in January
The Conference Board Consumer Confidence Index®, which had increased in December, retreated in January. The Index now stands at 111.8 (1985=100), down from 113.3 in December. The Present Situation Index increased from 123.5 to 129.7, but the Expectations Index decreased from 106.4 last month to 99.8. The monthly Consumer Confidence Survey®, based on a probability-design random sample, is conducted for The Conference Board by Nielsen, a leading global provider of information and analytics around what consumers buy and watch. The cutoff date for the preliminary results was January 19. "Consumer confidence decreased in January, after reaching a 15-year high in December (Aug. 2001, 114.0),” said Lynn Franco, Director of Economic Indicators at The Conference Board. For more, click here...
U.S. consumer sentiment hits 13-year high
Consumer confidence rose in January to a 13-year high, reflecting ongoing optimism about post-election fiscal policies and their impact on economic growth. The University of Michigan said Friday that its final index of sentiment increased to 98.5 from 98.2 in December. The median projection in a Bloomberg survey called for the measure to hold at its preliminary reading of 98.1. For more, click here...
Consumer Price Index up marginally
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3% in December on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index rose 2.1% before seasonal adjustment. Continuing their recent trends, the shelter and gasoline indexes increased in December and were largely responsible for the seasonally adjusted all items increase. The shelter index rose 0.3% in December, while the gasoline index increased 3.0%. For more, click here...
Consumer confidence index unchanged
A measure of consumers' attitudes remained unchanged at peak levels recorded in December. The Index of Consumer Sentiment hit 98.1 in January, the University of Michigan reported on Friday. The figure is in line with numbers from December. Economists expected the index to hit 98.5 in January, according to a consensus estimate from Thomson Reuters. For more, click here...
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