Consumer Confidence Holds Steady In May
The Conference Board Consumer Confidence Index® held steady in May, following a gain in April. The Index now stands at 117.2 (1985=100), down marginally from 117.5 in April. The Present Situation Index based on consumers assessment of current business and labor market conditions increased from 131.9 to 144.3. However, the Expectations Index based on consumers short-term outlook for income, business, and labor market conditions fell to 99.1 in May, down from 107.9 last month. After rebounding sharply in recent months, U.S. consumer confidence was essentially unchanged in May, said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. Consumers assessment of present-day conditions improved, suggesting economic growth remains robust in Q2. However, consumers short-term optimism retreated, prompted by expectations of decelerating growth and softenin
/PRNewswire/ The Conference Board Consumer Confidence Index® held steady in May, following a gain in April. The Index now stands at 117.2 (1985=100), down.
AUD drifting ahead of construction data
May 25, 2021SharePrint
The Australian dollar is flat in the Tuesday session. In the North American session, AUD/USD is trading at 0.7754, up 0.01% on the day.
Will Construction Work Done rebound?
Investors will be keeping an eye on Construction Work Done, a useful gauge of the strength of the construction sector (Wednesday, 1:30 GMT). Construction Work Done has sputtered, posting 10 straight losing quarters. However, the consensus is that the indicator will show a strong rebound in the first quarter, with an estimate of 1.9%. If the reading is within expectations, the Aussie could respond with gains.
The Federal Reserve continues to stick to its message that its ultra-accommodative policy will continue and that will maintain current QE levels. Inflation surged in April, which led to speculation that the Fed might contemplate scaling back QE. This gave the US dollar a brief boost earlier in May, but the market appears to have accepted the
Inflationistas ready to throw in the towel, consumer expectations drop, Moderna vaccine safe for adolescents, Hungary ready to tighten, another CBRT sacking
May 25, 2021SharePrint
Fed governors reiterate that inflation is transitory
Inflationistas look like they might be ready to throw in the towel. We are supposed to be seeing accelerating growth and mounting price pressures, but right now the surge across commodity prices has eased (copper, lumber, iron ore, and even soft grains), the housing market hit a top, and consumers’ short-term optimism retreated. The inflation debate is not over, but the majority of Wall Street believes it will be transitory.
May 2021 Conference Board Consumer Confidence Little Changed
The latest
Conference Board Consumer Confidence Index s headline number was little changed in May. The Index now stands at 117.2 (1985=100), down marginally from 117.5 in April. A quote from the Conference Board:
. consumers short-term optimism retreated, prompted by expectations of decelerating growth and softening labor market conditions in the months ahead .
Analyst Opinion of Conference Board Consumer Confidence
Consumer confidence had been steady for the previous two years - but the coronavirus killed the upswing. Consumer confidence during the pandemic was as low as seen in 2014 - but now has improved to nearly pre-pandemic levels.