Consumer confidence slumped in February as households grew more concerned about the outlook for the economy and jobs, sending their inflation forecast to a nine-year low.
The Conference Board’s sentiment index slid to 92.2 this month, less than the lowest forecast of economists surveyed by Bloomberg and the weakest since July, from a revised 97.8 in January, the New York-based private research group said Tuesday. The survey reflected responses received through Feb. 11, the day the Standard & Poor’s 500 Index sank to an almost two-year low. Shares have since rallied.
“It’s too early to say that consumer confidence is really on the cusp of rolling over, but your antennae have to be raised and you have to pay attention to see where this goes over the next three months or so," said Brett Ryan, a U.S. economist at Deutsche Bank in New York, whose confidence forecast was the lowest in the Bloomberg survey. Consumers “may be frustrated that they are not seeing wage gains. Corporate profits have been weak as of late, and add to that the volatility in the equity markets, it probably has people a little uneasy."
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7 comments:
It hasn't been good since the great recession began back in 2008. I lost my job in 2009 because of this and ended up finding a job that paid half of what I used to make.
Prices are higher and so is the cost of living. Even with two incomes, I can barely get by. I sold of some of my stuff, paid off my debts, got rid of luxury's like cable tv, going out to the movies, and vacations.
Even with this, we still are struggling to live. We have higher property taxes, higher home owners, and car insurance, yet most of us, like me are making far less than when we were making more and thinks were cheaper.
Something definitely has to give! We can't keep paying the high wages of public sector workers like Teachers and high salaried BOE members. I feel I shouldn't have to look for a second job because my property taxes, and insurance keep going up! I am fed up with this!!!
Even an animal when cornered will attack. I feel like that right now.
quality is crap. prices too high. taxes too high. too much regulation. not enough accountability. unfair trade. corrupt unions. etc.
3:27 There are a lot of us in the same boat. The best thing we can do is to continue to work thru it. The next thing is to never vote for another Democrat as long as you live because our taxes are going to illegals who are probably living better than us.
My hat is off to the ones that ARE working thru it. Too many people are walking away from it. They are running away from huge houses they had no business buying to begin with. That generation looked at their parents who had worked all their lives and decided that they want to live that way right out of the gate. They walk away and do it all over again.
THINGS are way too expensive!!
You don't NEED to drive a new car.
You don't NEED to have a new coat every year.
You don't NEED most of everything you purchase.
And you certainly don't need a huge house.
It isn't about need.... Its about WANTS
It isn't about need.... Its about WANTS
February 25, 2016 at 7:26 PM
and it's any of your business why?
7:26 - Lets talk about expensive.
Don't drive a new car
Wearing coat that have been wearing for 10 years
Purchase only food and things needed (not wanted)
Do not use credit cards
Rent house because can not afford huge house
Prices keep going up, wages do not. Everybody is charging a fee to make themselves rich. Have a little money saved but scared because of healthcare cost and penalties if do not have, car insurance premiums rising even though you never made a claim, yet most of us, like me are making far less than when we were making more and thinks were cheaper.
Anyway you look at it the rich get richer, poor get poorer and middle-class have to pay for it all.
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