American Consumer Confidence Improves in November, But Caution with Downward Revisions

The Conference Board’s Consumer Confidence Index came in higher than expected at 102.0 for November (consensus 100.0). However, this came after a downwardly revised 99.1 (from 102.6) for October. Without the downwardly revised number for the prior month, it was lower, all in the headline as they say in these instant news cycles for the algorithms. Two things stood out, rising prices and higher interest rates are still pressuring consumer confidence. However, year-ahead inflation expectations dipped to 5.7% from 5.9%, … Continue reading “American Consumer Confidence Improves in November, But Caution with Downward Revisions”

American Consumer Confidence Slumps in September with Job and Income Vulnerability

The Conference Board said Consumer Confidence slumped to 103.0 in September (consensus 105.0) from an upwardly revised 108.7 (from 106.1) in August. In the same period a year ago, the index stood at 107.8. Three things stood out, consumers’ weakening expectations for future business conditions, job availability, and incomes, all of which has the potential to translate into softer spending activity. High interest rates, inflation coming down but rising prices in general, and for groceries and gasoline in particular are … Continue reading “American Consumer Confidence Slumps in September with Job and Income Vulnerability”

American Consumer Confidence Slumps in August with Employment Anxiety

The Conference Board said Consumer Confidence slumped to 106.1 in August (consensus 116.0) from a downwardly revised 114.0 (from 117.0) in July. In the same period a year ago, the index stood at 103.6.Two things stood out, the revision of the previous number and the receding optimism about employment conditions negatively affected consumers’ view of the present situation and outlook for consumers’ family finances. High interest rates, inflation coming down but rising prices in general, and for groceries and gasoline … Continue reading “American Consumer Confidence Slumps in August with Employment Anxiety”

American Consumer Confidence Jumps Again in July to a Two-Year High

The Conference Board said Consumer Confidence in June popped 117.0 in July (consensus 111.5) from an upwardly revised 110.1 (from 109.7) in June to its highest level since July 2021. In the same period a year ago, the index stood at 95.3. Noticeably sentiment has become more optimistic with the uptick in consumer confidence from a pickup in views about current conditions and a brighter outlook for consumers’ family finances. Inflation coming down, though still at lofty levels and the … Continue reading “American Consumer Confidence Jumps Again in July to a Two-Year High”

American Consumer Confidence Jumps with Relief for Family Finances in June

The Conference Board said Consumer Confidence ln June Jumped to 109.7 (consensus 103.8) from an upwardly revised 102.5 (from 102.3) in May. In the same period a year ago, the index stood at 98.4. Noticeably sentiment has become more optimistic with the uptick in consumer confidence from a pickup in views about current conditions and a brighter outlook for consumers’ family finances. It appears the fear around bank failures and politics in the United States has numbed respondents. The expectations … Continue reading “American Consumer Confidence Jumps with Relief for Family Finances in June”

Under the Mattress, Tempur Sealy Buys Mattress Firm in $4bn deal

Leading bedding maker Tempur Sealy International announced on Tuesday it would buy the US’s largest specialty mattress retailer, Mattress Firm, in a cash and stock deal with an enterprise value of $4bn. The Kentucky-based company announced the deal alongside first-quarter results on Tuesday where it beats by $0.02, reported revs in-line and reaffirmed FY23 EPS guidance. The deal is expected to be accretive and close in 2H24. TPX said the deal comprises $2.7bn in cash and $1.3bn in stock. The … Continue reading “Under the Mattress, Tempur Sealy Buys Mattress Firm in $4bn deal”

American Consumer Confidence Weakens with Pessimistic Job and Business Outlooks

The Conference Board said Consumer Confidence ln April fell to 101.3 (consensus 104.1) from a downwardly revised 104.0 (from 104.2) in March. In the same period a year ago, the index stood at 108.6. Noticeably sentiment has become more pessimistic about the outlook for business conditions and the job market. The negativity around bank failures and politics in the United States has had another month to set in. The expectations Index remained below 80.0 for the 13th month out of … Continue reading “American Consumer Confidence Weakens with Pessimistic Job and Business Outlooks”

American Consumer Confidence Holds Up Despite US Bank Collapses

The Conference Board said Consumer Confidence rose in March hit 104.2 (consensus 101.5) versus an upwardly revised 103.4 (from 102.9) for February. In the same period a year ago, the index stood at 107.6. Noticeably consumer sentiment held up well even though the survey period covered the week after Silicon Valley Bank collapsed. The cutoff date for the survey was March 20th, about ten days after the bank failures in the United States. The expectations Index remained below 80.0 for … Continue reading “American Consumer Confidence Holds Up Despite US Bank Collapses”

American Consumer Confidence Falls Sharply with Short-Term Income Prospects

The Conference Board said Consumer Confidence fell in February for the second straight month.  The index fell sharply missing consensus significantly at 102.9 (consensus 108.4) versus a downwardly revised 106.0 (from 107.1) for January.  American consumers’ short-term outlook became decidedly gloomy, becoming considerably less upbeat about their short-term income prospects. That is scuppering plans to buy homes, autos, and major appliances. It was also reported that vacation intentions declined in February. In the same period a year ago, the index … Continue reading “American Consumer Confidence Falls Sharply with Short-Term Income Prospects”

American Consumer Confidence Falls with Concerns About the Economy

The Conference Board said Consumer Confidence fell in January, falling to 107.1 (below consensus 109.0) from an upwardly revised 109 in December. The Expectations Index retreated in January reflecting their concerns about the economy over the next six months. Consumers expect business conditions to worsen in the near term. Purchasing plans for autos and appliances held steady, but fewer consumers are planning to buy a home—new or existing. For perspective in the same period a year ago, the Consumer Confidence Index … Continue reading “American Consumer Confidence Falls with Concerns About the Economy”