• Disclosure
  • Privacy Policy
  • DMCA Policy
  • CCPA
  • Medical Disclaimer
Monday, March 27, 2023
SLC Metro News
  • Home
  • News
  • Business
  • Technology
    • Crytpocurrency
    • Gaming
    • Gadgets
  • Sports
  • Health
  • General
    • Business Services
  • Travel
  • Press Releases
  • Popular
No Result
View All Result
  • Home
  • News
  • Business
  • Technology
    • Crytpocurrency
    • Gaming
    • Gadgets
  • Sports
  • Health
  • General
    • Business Services
  • Travel
  • Press Releases
  • Popular
No Result
View All Result
No Result
View All Result
Home Sports

US Consumers Still Confident, But Outlook Not As Rosy – Warren Tribune Chronicle

us-consumers-still-confident,-but-outlook-not-as-rosy-–-warren-tribune-chronicle
Share on FacebookShare on Twitter

SILVER SPRING, Md. (AP) — U.S. consumer confidence bounced back in March and remains high, though consumers’ short-term outlook is not quite as rosy.

The Conference Board, a business research group, said today that its consumer confidence index — which takes into account consumers’ assessment of current conditions and their outlook for the future — rose to 107.2 in March from 105.7 in February.

The board’s present situation index, which measures consumers’ assessment of current business and labor conditions, also rose this month to 153 from 143 in February.

However, the expectations index, based on consumers’ six-month outlook for income, business and labor market conditions, declined to 76.6 from 80.8 in February. Respondents cited higher prices — particularly gas prices — and the war in Ukraine as the biggest factors.

The proportion of people planning to purchase homes, automobiles, and major appliances over the next six months all fell as interest rates have risen, the Conference Board said.

The Federal Reserve raised its main borrowing rate by a quarter point earlier this month, the main mechanism for combatting inflation. But many economists say the Fed’s first rate hike in three years came too late.

Two weeks ago, the government reported that inflation at the consumer level soared over the past year at its highest rate in four decades. The 7.9 percent price surge ranged across the economy, from food and furniture to apartment rents, airline fares and electricity.

There are signs that American consumers are curtailing their spending. After beginning the year in a buying mood, Americans slowed their spending in February on gadgets, home furnishings and other discretionary items as higher prices for necessities — food, gasoline, and shelter — are cutting into any pay increases.

Retail sales increased just 0.3 percent last month after registering a revised 4.9 percent jump from December to January, fueled by wage gains, solid hiring and more money in banking accounts, according to the Commerce Department.

Some economists believe the healthy U.S. labor market is a major factor driving consumer confidence.

“Consumer confidence rose because it is heavily weighted toward job prospects, and not only are job postings plentiful, many workers are job hopping to land better pay and better benefits, especially working from home,” said economist Robert Frick with Navy Federal Credit Union.

The Labor Department reported today that there were 11.3 million available jobs last month, matching January’s figure and just below December’s record of 11.4 million. The number of Americans quitting their jobs was also historically high, at 4.4 million.

The unemployment rate is at a historically low 3.8 percent and some analysts expect that number to come down further when the government releases its March jobs report on Friday.

Today’s breaking news and more in your inbox

SLC Metro News

© 2021 SLC Metro News

Navigate Site

  • Disclosure
  • Privacy Policy
  • DMCA Policy
  • CCPA
  • Medical Disclaimer

Follow Us

No Result
View All Result
  • Home
  • DMCA Policy
  • Medical Disclaimer
  • Privacy Policy
  • Disclosure
  • CCPA
  • Terms of Use

© 2021 SLC Metro News

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT