FOR HOW LONG, THOUGH?
There are plenty of reasons for Americans to be jittery about the economy. The markets are in turmoil, global headwinds are real, and a broad-based slowdown appears imminent.
For the moment, though, consumer comfort in the United States remains on the upswing – according to the latest data from Bloomberg. Hovering at annual lows as recently as last month, Bloomberg’s latest Consumer Comfort Index (CCI) – which measures consumer comfort on a scale of zero to 100 – stood at 44.6.
Here is the trend line …
And here is the latest report (.pdf click).
So … why are Americans feeling “comfortable” despite multiple economic warning lights are flashing all around them?
“Sharply lower fuel prices may be helping, with gas prices their lowest in nearly seven years,” compilers of the data noted. “That said, risks abound, including declines in the stock markets and a rise in jobless claims to their highest since July.”
Bloomberg’s CCI is compiled weekly by Langer and Associates – and has been since December 1985. Its data is based on 1,000 national random-sample landline and cellular telephone interviews, 250 per week (in a four-week rolling average). Its record high of 69 was reached on January 16, 2000. Meanwhile its record low of 23 has been recorded on four separate occasions – most recently on June 21, 2009.
14 comments
Why do you bother with these pointless consumer confidence pieces?
You only complain when the news is good.
The consumer comfort stays strong despite every news outlet and gloried “blog” site trying to scare you with bs stories for click bait.
You know when the Kochsuckers loose money on oil, Will starts having “fits”.
Unemployment Claims were down 16,000 to 278,000 for the latest week ending January 23. However continuing claims for the week ending January 16 was 2,268,000, an increase of 49,000.
“End of the world. Buy Gold.”
But if you’ve already bought gold, sell it quick. Hurry!
lunch time – think I’ll go buy something. Doing my part.
Why has the SNAP program grown so rapidly over the past few years under Obama— to the point where 47 million Americans, one-sixth of the country, now receive food stamps?
The economy is bad?
that depends, if you are rich the economy is good and you are getting richer, if you are poor or middle class the economy is bad and you are getting poorer. in other words the cash cows are eating really well and the rest of us are the birds having to pick the seeds out of their patties, thirty years of the trickle down policies have brought us to this.
The increase in SNAP payouts is directly proportional to the increase in your belly fat. LMAO!!!!
What are you and Will having for lunch today? Does he get confused and call you Rocky once in awhile?
Thanks Obama! Bernie will make it better!
“It’s a good idea to save your money. One day it might be worth something again!” ~Alfred E. Neuman