izod polos for women consumer confidence surges most in 8 years
Rising sentiment may help sustain sales during the holiday shopping season, which accounts for as much as 40% of retailers annual revenue. Fewer new claims for jobless benefits and cheaper fuel costs are easing the burden for American consumers, whose spending accounts for about 70% of the economy.for confidence are improving, Ryan Sweet, a senior economist at Moody Analytics Inc. in West Chester, Pennsylvania, said before the report. labour market is healing, inflation is moderating and fears of a second recession have faded somewhat. median projection in the Bloomberg survey called for a confidence reading of 44. Estimates of 70 economists ranged from 37 to 49.6. The index averaged 53.7 during the 18 month recession that ended in June 2009. in New York. The yield on the benchmark 10 year Treasury note rose to 2.02% from 1.97% late yesterday.Results of the Conference Board survey reflected responses from consumers by Nov. 15, a week before the congressional supercommittee announced it failed to agree on a deficit reduction plan.Tuesday figures exceed the gains in other recent sentiment surveys. The Bloomberg Consumer Comfort Index monthly expectations gauge climbed in November to the highest reading since July. The Thomson Reuters/University of Michigan final index of consumer expectations for six months from now rose in November to the highest level in five months.Residential real estate prices dropped more than forecast in the year ended September, showing the industry at the center of the 2008 financial crisis continues to struggle, another report today showed.The S index of property values in 20 cities dropped 3.6% from September from the same month in 2010 after decreasing 3.8% in the year ended August, the group said Tuesday in New York. The median forecast of 32 economists in a Bloomberg survey projected a 3% decrease.The Conference Board data showed a measure of present conditions increased to 38.3 from 27.1. The measure of expectations for the next six months rose to 67.8 from 50.The percent of respondents in the Conference Board survey expecting more jobs to become available in the next six months climbed to 12.9, a four month high,
from 10.8 in October.The proportion expecting their incomes to rise over the next six months rose to 14.9% from 11.1%.The share of consumers who said jobs were currently plentiful climbed to 5.8%, the highest since May 2009, from 3.6%. regions, according to today report.Stock MarketThe report also showed that 24.9% of respondents said they expect stocks to gain in the next year. Confidence picked up in all income levels.In Europe, the debt crisis is depressing consumer attitudes. European confidence in the economic outlook dropped more than economists projected in November as the 17 nation euro region moved closer to recession.An index of executive and consumer sentiment in the euro area fell to 93.7 from 94.8 in October, the European Commission in Brussels said today. That the lowest since November 2009. Economists forecast a drop to 93.9, the median of 31 estimates in a Bloomberg survey showed.Black FridayRetail sales climbed 16%, and shoppers spent US$398.62 on average, up from US$365.34 a year earlier, the National Retail Federation said Monday, citing a survey from BIGresearch. Web sales on Black Friday surged 26% to US$816 million and 18% to US$479 million on Thanksgiving Day, said ComScore, a Reston,
Virginia based research firm.