Survey: Consumer Sentiment Dips on Lower-, Middle-Income Despair

Friday, 17 Jan 2014 10:05 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

U.S. consumer sentiment slipped in its first January measure, weighed by lowered expectations among lower- and middle-income families, a survey released on Friday showed.

The Thomson Reuters/University of Michigan's preliminary reading on the overall index on consumer sentiment came in at 80.4, down from 82.5 in December.

It was below the median forecast of 83.5 among economists polled by Reuters.

"Upper-income households benefited from continued strong gains in income as well as increases in stock and home values," survey director Richard Curtin said in a statement.

Special: Free Book Reveals How 3 Ex-Presidents Got Rich

"Low- and middle-income households were mainly concerned about lackluster growth in employment and income, and anticipated less improvement in long-term prospects for the economy."

The survey's barometer of current economic conditions fell to 95.2 from 98.6 and below a forecast of 98.5.

The survey's gauge of consumer expectations slipped to 70.9 from 72.1 and below a forecast of 74.2.

The survey's one-year inflation expectation was unchanged from last month at 3.0 percent, while the survey's five-to-10-year inflation outlook rose to 2.9 percent from 2.7 percent.

Special: Free Book Reveals How 3 Ex-Presidents Got Rich

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Consumer Prices Rise 0.1% on Higher Food, Shelter Costs

Wednesday, 22 Oct 2014 08:44 AM

U.S. consumer prices rose marginally in September as energy costs fell broadly, painting a weak inflation picture that s . . .

Social Security Benefits to Increase by 1.7%

Wednesday, 22 Oct 2014 08:44 AM

The government says millions of older Americans who rely on federal benefits will get a 1.7 percent increase in their mo . . .

Furchtgott-Roth: Fed Must Target Growth, Not Income Inequality

Tuesday, 21 Oct 2014 15:14 PM

Federal Reserve Chair Janet Yellen has expressed "great concern" about the increase of income inequality. . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved