Global| Jul 31 2007Consumer Confidence Rebounded
by:Tom Moeller
|in:Economy in Brief
Summary
Consumer confidence rebounded in July, according to the Conference Board Survey. The 6.9% increase recovered the 2.9% June decline and brought the index to its highest level since 2001. The present conditions reading rose 7.2% as the [...]
Consumer confidence rebounded in July, according to the Conference Board Survey. The 6.9% increase recovered the 2.9% June decline and brought the index to its highest level since 2001.
The present conditions reading rose 7.2% as the percentage of respondents who viewed business conditions as good rose slightly but the percentage who viewed jobs as plentiful rose to the highest since 2001.
The expectations index also rose a sharp 6.8% to the highest level since the end of last year. Plans to by carpet and an automobile improved. Expectations about future income rose while expectations about the inflation rate fell. However, not many more respondents saw more employment opportunities.
The expected inflation rate in twelve months ticked lower to 5.1%, equal to expectations during all of last year for inflation in twelve months.
| Conference Board (SA, 1985=100) |
July | June | Y/Y | 2006 | 2005 | 2004 |
|---|---|---|---|---|---|---|
| Consumer Confidence Index | 112.6 | 105.3 | 5.2% | 105.9 | 100.3 | 96.1 |
| Present Conditions | 139.2 | 129.9 | 3.7% | 130.2 | 116.1 | 94.9 |
| Expectations | 94.8 | 88.8 | 6.6% | 89.7 | 89.7 | 96.9 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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