Americans’ Outlook for U.S. Economy Falls to Seven-Month Low - News and Current Events | futures io social day trading
futures io futures trading


Americans’ Outlook for U.S. Economy Falls to Seven-Month Low
Updated: Views / Replies:136 / 0
Created: by kbit Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Americans’ Outlook for U.S. Economy Falls to Seven-Month Low

  #1 (permalink)
Elite Member
Aurora, Il USA
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
 
kbit's Avatar
 
Posts: 5,872 since Nov 2010
Thanks: 3,301 given, 3,332 received

Americans’ Outlook for U.S. Economy Falls to Seven-Month Low

Americans’ expectations for the economy deteriorated to a seven-month low in May, a sign that the rebound from weakness earlier this year may be limited by still-cautious consumers.

An expectations gauge that tracks where the economy is heading declined to 42.5 in May from 48 in the month prior, data from the Bloomberg Consumer Comfort Index showed today. The share of respondents who said the economy was getting worse climbed to the highest level this year. The weekly measure of sentiment declined to 34.1 in the period ended May 18 from 34.9, the third straight drop.

Wages last month failed to keep pace with a rising cost of living as prices increased for such necessities as food and fuel. Stronger hiring that leads to fatter paychecks would help spur confidence and provide households the wherewithal to boost their spending.

“We’re having a very disappointing rebound from a slowdown that was thought to have been caused only by the weather,” said Joseph Brusuelas, a senior economist at Bloomberg LP in New York. The lagged effect of elevated interest rates and gasoline prices, as well as weaker equity gains, “have taken at least a temporary bite out of sentiment.”

Another report today showed claims for unemployment benefits rose more than forecast last week. Jobless claims increased by 28,000 to 326,000 in the week ended May 17, Labor Department figures showed in Washington.
Stock Index

Stocks were little changed at 9:33 a.m., with the Standard & Poor’s 500 Index rising less than 0.1 percent to 1,888.48.

Some 37 percent of those surveyed for the Bloomberg comfort index said the economy was worsening, up from 31 percent in April, while the share of respondents who saw an improvement dropped by the most since October.

Bloomberg’s weekly measure of the economy declined to 20.6 last week, the lowest level since early February, from 21.5 in the prior period.

The buying-climate measure, which asks consumers whether this is a good time to make purchases, dropped to a six-week low of 30.9 from 32.2. The gauge of personal finances held at 50.8, also the weakest since the first week of April.

Elevated prices at grocery stores and gas stations are probably souring Americans’ views of the economy. The consumer-price index increased 0.3 percent in April, the biggest advance since June, the Labor Department said last week. Food prices climbed 0.4 percent for a third consecutive month as the cost of meat advanced by the most since November 2003.
Gasoline Prices

While gasoline prices were little changed last week from the prior period at an average $3.65 a gallon, they were up from $3.18 six months earlier. Fuel costs reached $3.70 on April 26, the highest since March 2013.

As prices rise, inflation-adjusted earnings are taking a blow. Real hourly wages fell 0.3 percent in April from a month earlier and declined 0.1 percent from April 2013, the first year-over-year decrease since October 2012.

Further job gains may lay the groundwork for higher wages and confidence. Payrolls climbed by 288,000 workers in April after a 203,000 increase the previous month that was larger than first estimated, the Labor Department said this month.

Today’s figures showed sentiment fell in five of seven income brackets last week, with those making more than $100,000 leading the decline. Sentiment among the highest-earning Americans dropped 3.6 points to 52.9, the lowest level since the week ended Feb. 2. The gauge has declined by 9.4 points in the past month.
Biggest Drop

Among the regions, the South showed the biggest drop in confidence, with a decline of 2.6 points to a one-month low of 35. Sentiment fell in the Northeast and rose in the Midwest and West.

This is the fourth release in which the Bloomberg comfort index has been presented on a scale of zero to 100 rather than the previous minus 100 to 100, with the midpoint shifting to 50 from zero. The change is also reflected in the gauge’s components. It doesn’t affect the measures’ relationship to each other or their correlation with other economic indicators. Historical data has been revised and analysis of trends, values and other variables also aren’t affected.

Americans? Outlook for U.S. Economy Falls to Seven-Month Low - Bloomberg

Reply With Quote

Reply



futures io > > > > Americans’ Outlook for U.S. Economy Falls to Seven-Month Low

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Dell Earnings Beat Estimates but Outlook Falls Short Quick Summary News and Current Events 0 August 21st, 2012 05:40 PM
RIM Earnings Top Forecasts But Outlook Weak; Stock Falls Quick Summary News and Current Events 0 December 15th, 2011 05:40 PM
HSBC Says Outlook 'Very Challenging'; Profit Falls Quick Summary News and Current Events 0 November 9th, 2011 06:00 AM
U.S. Unemployment Drops to 6-Month Low of 9.0% Quick Summary News and Current Events 0 November 4th, 2011 10:30 AM
Mortgage Demand Falls Despite Low Loan Rates Quick Summary News and Current Events 0 September 22nd, 2010 08:40 AM


All times are GMT -4. The time now is 09:13 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-16 in 0.10 seconds with 19 queries on phoenix via your IP 54.83.122.227