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Search resuls for: "Martha C. White For Cnn Business"


3 mentions found


☆ Tens of thousands likely jobless after Hurricane Ian, economists say
  + stars: | 2022-10-11 | by ( Martha C. White For Cnn Business | ) edition.cnn.com   time to read: +8 min
Although the damage is still being tallied, early estimates indicate that Ian could be the most costly hurricane to make landfall in Florida. In the short term, a spike in jobless claims is almost inevitable, economists say: “Hurricane Harvey in Texas prompted a rise of about 50,000 in August of 2017,” noted Mike Englund, chief economist at Action Economics. A view of the destroyed road between Florida's Matlacha and Pine Island after Hurricane Ian. “Katrina was a much more damaging storm, and impacted Louisiana, which is much less affluent than Florida,” Zandi said. A powerboat lies atop a pile of debris two days after the passage of Hurricane Ian, in Fort Myers, Florida.
☆ Consumers are growing more optimistic about the US economy
  + stars: | 2022-09-27 | by ( Martha C. White For Cnn Business | ) edition.cnn.com   time to read: +1 min
CNN —Consumer confidence rose for a second straight month in September, as moderating gas prices and the hope that inflationary pressures might be easing helped lift the nation’s collective mood. The Conference Board reported on Tuesday that its baseline index rose to 108 from a revised 103.6 in August. The reading comes as welcome news, since the consumer outlook lately has been buffeted by the growing fear of an economic downturn. The consumer confidence index is just one constellation of data points economists and investors will have to digest this week. Barring an upward revision that finds the economy expanded instead of contracted, American economic activity will have fallen for two consecutive quarters, a commonly used — although unofficial — yardstick to indicate that the country is in a recession.
☆ Lower gas prices push consumer confidence to highest level since May
  + stars: | 2022-08-30 | by ( Martha C. White For Cnn Business | ) edition.cnn.com   time to read: +4 min
CNN —Lower gas prices helped consumer confidence bounce back in August, breaking a three-month stretch of worsening sentiment. “Expectations are more sensitive to movements in gas prices,” Shepherdson said in a research note, adding that the continued slide in gas prices could be a tailwind for the survey results. However, while the consumer confidence number is promising, “this is one month,” she cautioned. Consumer confidence is a pretty fickle reading.”The big risk is that what the gas pump giveth, the gas pump taketh away, as Patrick DeHaan, head of petroleum analysis at GasBuddy, told CNN Business in an opinion column published Tuesday. “It is a real drain on disposable income [and] it ends up acting as a depressant on consumer confidence,” Stovall said.
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