DJ DATA SNAP/Confidence:Aug Confidence 99.6 Vs Jul 107.0 -2(DJ)
DJ DATA SNAP/Confidence:Aug Confidence 99.6 Vs Jul 107.0 -2(DJ)
"Consumer confidence lost significant ground in August," said Lynn
Franco, who leads the group's Consumer Research Center. "Less
favorable business conditions coupled with a less favorable job
scenario have resulted in the largest one month decline in
confidence since Hurricane Katrina last year," she said, adding
"the glass remains half empty" for "more pessimistic" consumers.
The bad news was not confined to the overall reading. The group's
present situation index also fell, from a revised 134.2 in July to
123.4 in August. The expectations index dipped to 83.8 in August,
from 88.9 the prior month.
The Conference Board's report comes at a time of mounting signs of
an economic slowdown. Recent housing data has cooled markedly, while
overall growth statistics have also moderated. The environment is
such that the Federal Reserve felt, even in the face of elevated
inflation readings, it had the room to hold interest rates steady
when it meet earlier in August.
Some had expected to see confidence levels slip in August due to
renewed worries about terrorism and on conflict in the Middle
East.
The research group said in its release that consumers' take on
current conditions was "significantly less favorable." Those
calling conditions "good" fell to 26.1% of the survey, from 27.3%
the month before, while those calling conditions "bad" rose to
16.7% of the survey, versus 15.0% in July.
On the employment front, those calling jobs "plentiful" fell to
24.4% in August, compared with 28.6% in July. Those who deemed
jobs "hard to get" rose to 21.1%, from 19.6% who had the same view
a month ago. The report also noted a more negative take on future
activity, and those who expect their incomes to rise over coming
months fell to 17.7%, versus 18.3% in July.
The Conference Board survey is based on a mail-in survey of 5,000
households. The cutoff date for responses was Aug. 22.
-By Michael S. Derby, Dow Jones Newswires;
Sincerely, Ilan Levy-Mayer, M.B.A Vice President Cannon Trading Co Inc. http://www.cannontrading.com http://www.E-Futures.com ilan@cannoncapital.com Yahoo IM ilanlevy1970 310-859-9572 800-454-9572 Fax 310-859-0547 9301 Wilshire Blvd. Suite #614 Beverly Hills, Ca 90210 The finest compliment I can receive is a referral from a trusted client. * Important Please Note: Trading commodity futures and options involves substantial risk of loss. The recommendations contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results.
"Consumer confidence lost significant ground in August," said Lynn
Franco, who leads the group's Consumer Research Center. "Less
favorable business conditions coupled with a less favorable job
scenario have resulted in the largest one month decline in
confidence since Hurricane Katrina last year," she said, adding
"the glass remains half empty" for "more pessimistic" consumers.
The bad news was not confined to the overall reading. The group's
present situation index also fell, from a revised 134.2 in July to
123.4 in August. The expectations index dipped to 83.8 in August,
from 88.9 the prior month.
The Conference Board's report comes at a time of mounting signs of
an economic slowdown. Recent housing data has cooled markedly, while
overall growth statistics have also moderated. The environment is
such that the Federal Reserve felt, even in the face of elevated
inflation readings, it had the room to hold interest rates steady
when it meet earlier in August.
Some had expected to see confidence levels slip in August due to
renewed worries about terrorism and on conflict in the Middle
East.
The research group said in its release that consumers' take on
current conditions was "significantly less favorable." Those
calling conditions "good" fell to 26.1% of the survey, from 27.3%
the month before, while those calling conditions "bad" rose to
16.7% of the survey, versus 15.0% in July.
On the employment front, those calling jobs "plentiful" fell to
24.4% in August, compared with 28.6% in July. Those who deemed
jobs "hard to get" rose to 21.1%, from 19.6% who had the same view
a month ago. The report also noted a more negative take on future
activity, and those who expect their incomes to rise over coming
months fell to 17.7%, versus 18.3% in July.
The Conference Board survey is based on a mail-in survey of 5,000
households. The cutoff date for responses was Aug. 22.
-By Michael S. Derby, Dow Jones Newswires;
Sincerely, Ilan Levy-Mayer, M.B.A Vice President Cannon Trading Co Inc. http://www.cannontrading.com http://www.E-Futures.com ilan@cannoncapital.com Yahoo IM ilanlevy1970 310-859-9572 800-454-9572 Fax 310-859-0547 9301 Wilshire Blvd. Suite #614 Beverly Hills, Ca 90210 The finest compliment I can receive is a referral from a trusted client. * Important Please Note: Trading commodity futures and options involves substantial risk of loss. The recommendations contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results.
posted by Cannon Trading at 7:26 AM
0 Comments:
Post a Comment
<< Home