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

Friday, 17 Jan 2014 10:05 AM

 

  Comment  |
   Contact  |
  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.

  Comment  |
   Contact  |
  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.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Steve Lonegan: 'We Are Leaning Into Another Recession'

Friday, 19 Dec 2014 12:01 PM

Things aren't looking up for the economy, and the Federal Reserve isn't helping matters, Steve Lonegan, former mayor of  . . .

Gasoline Drops Below $2.50 for First Time Since 2009

Friday, 19 Dec 2014 11:02 AM

U.S. drivers are paying less than $2.50 a gallon at the pump for the first time in more than five years. . . .

US Telecoms, Utility Grids May Be Next Targets of North Korean Hackers

Friday, 19 Dec 2014 08:34 AM

The hacking attack on Sony Pictures may have been a practice run for North Korea's elite cyber-army in a long-term goal  . . .

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