Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Consumer Confidence Said to Be Off in Mid-April
Apr 19, 2004
 Printable format
 Email this Article
 Search

U.S. consumers' views on the economy and its outlook weakened modestly in the middle of April, according to a report released recently.
Sources who'd seen the University of Michigan's (Ann Arbor, MI, U.S.) preliminary report on consumer sentiment for April said that its overall index slipped to 93.2, from 95.8 the month before.

The Michigan data is released only to subscribers. Economists surveyed by Dow Jones Newswires had expected to see a softening, but not as big as the one that occurred. The median finding of the survey was for a reading of 93.9.

The reading on consumer expectations was said to have moved to 86.2 from 88.8 at the end of March. The current conditions index fell to 104.1, versus 106.8 in March.

The Michigan data, like all consumer confidence reports, isn't all that well correlated with actual changes in consumer spending, which is the factor the U.S. Federal Reserve (the Fed) policymakers say is the more critical thing to watch.

Recent economic data suggest that consumers' mood should be rising, after seeing strong hiring gains and solid retail spending during March, of a magnitude that's got many on Wall Street, the center of U.S. financial activity, mulling the possibility of a summer interest rate hike from the Fed.

Fed policy makers have given a tentative "thumbs up" to the recent news, but have cautioned that they'll need to see the numbers repeated before they'll be sure that a trend is in the making.
Federal Reserve Bank of Richmond (Richmond, VA, U.S.) Fed President Alfred Broaddus said rates will have to rise if the expansion continues, but "We are still some distance from that."
Dana Johnson, an economist at Banc One Capital Markets, in Chicago, IL, U.S., downplayed the softening in preliminary April Michigan data. "Notwithstanding this mediocre recovery in confidence, actual consumer spending has clearly accelerated. That reinforces my long-held view that consumer confidence is not a very useful guide to emerging spending patterns," he said in a note to clients.

The preliminary Michigan findings are based on a telephone survey of around 250 households. A final survey at the end of the month questions 500 households. (Associated Press)

Back to Daily News

 

Daily News

...........................................................

Oct 17, 2014: Whirlpool completes purchase of majority interest in Indesit

Oct 17, 2014: AHRI Annual Meeting registration open for just 1 more week

Oct 17, 2014: Walmart will moderate brick-and-mortar growth and increase capital spending on e-commerce capabilities

Oct 17, 2014: Smart devices shipments forecast to show strong growth

Oct 16, 2014: Helen of Troy sales and earnings exceed expectations

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014
April 2014: Appliance Magazine Market Insight: February 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows