Consumer Assurance Decreases
Subscribe today for Free Enterprise Updates
- Latest business trends and best practices
- News about legislation and regulation impacting business
- Business how-to articles from industry experts
- Commentary and interviews with newsmakers in business and politics
Though it appeared as though consumer confidence was finally on the incline, new information from The Hill indicates a decrease of consumer assurance. Economists were predicting a slight improvement in keeping with the last two quarters but instead the numbers are showing the opposite.
Confidence had increased for five straight months, reaching a three-year high in February, but since then been lowered by a surge in food and gas prices, along with shakiness in the labor market.
A healthy economy registers readings of at least 90, a number the report hasn't hit since the recession began in December 2007.
The report's gauge of expectations for the next six months dropped to 75.2, from 83.2, the lowest since October. The measure of present conditions also decreased -- to 39.3 in May from 40.2 in April.
Read more about the current situation and future predictions of consumer confidence.