Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Market
Consumer confidence ticks up
NEW YORK (2/14/14)--Although dismal weather seems to abound, there is a sunnier picture being painted of consumer confidence, according to the most recent Bloomberg Consumer Comfort Index (CCI).

Bloomberg reported Thursday that for the first time in five weeks, Americans are feeling a bit more upbeat about the nation's economy.  In fact, CCI increased to minus 30.7 in the week ended Feb. 9, up a good bit from minus 33.1 the prior period. Also of note is that one measure of the state of the economy jumped to the highest level it's been since September.

So what's behind the boost in outlook?  Bloomberg posits that for high-income earners it was likely last week's rebound in stock prices. For others it may have been reports of faster job creation, which comes hand in hand with stronger wage growth.  That in turn boosts consumer spending, which Bloomberg notes accounts for 70% of the economy.


RSS print
News Now LiveWire
Positive performance indicators and the potential for rising interest rates in @TheNCUA 's latest economic update. http://t.co/yptPbIGvnU
2 hours ago
The @CFPB has launched a nationwide effort to provide financial education. http://t.co/sF3FXHpv3k
2 hours ago
See @CUNA's @SchenkMike on TheStreet discussing a new surge consumer confidence http://t.co/SqjarTBLCQ
3 hours ago
.@CFPB pushes back cmmt deadline on proposal to allow consumer narratives in complaints database--now 9/22, was 8/22. http://t.co/mHLlRVjEij
3 hours ago
@FHFA will hold 8/14 outreach in Atlanta for homeowners who still could benefit from the HARP refinance program. More in #NewsNow Thurs.
4 hours ago