Consumer Trifecta Suggests Signs Of Life In U.S. Economy
Finally, there may be some combined signs of life in the consumer sector of the U.S. economy. First, the Conference Board’s Consumer Confidence Index rose to 52.5 in March, recovering about half of the nearly 11 points it lost in February and slightly more than the 50.0 reading that analysts expected. [The number still is far short of a “healthy” reading of 90.] Also, the Standard & Poor’s/Case-Shiller 20-city home price index showed prices rose 0.3 percent from December to January, the eighth consecutive monthly gain, and among the 20 cities in the index, home prices were up in 12 rose. Additionally, retailers predict a 3.5% gain for March when sales figures are released next week, according to the International Council of Shopping Centers. “We’re a lot better off, but we have a lot more improvement to go,” the Council’s chief economist, Michael Niemira, said. [Sources: USA Today, Wall Street Journal]
From MediaEconomy Digest, © 2010. Published by Bunzel Media Strategies
