DIRS.INFO The most relevant business & tech news

☆ Even with slower inflation, consumer sentiment weakened sharply in November, survey shows
▼ + stars: | 2022-11-11 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

On an annual basis, the headline index reading fell 18.8%, while the current conditions measure was off 21.5% and the future expectations measure slid 17%. The University of Michigan release comes a day after the Bureau of Labor Statistics reported that the consumer price index rose 0.4% in October, below the 0.6% estimate. "For low-income households in particular, higher prices for essentials limit discretionary spending, crimp savings, and contribute to higher credit card debt." Inflation expectations edged higher in the month despite October's CPI reading, which showed that year-over-year prices rose 7.7%, compared to 8.2% the previous month. The sentiment index reached its historic low in June as worries accelerate that the U.S. already was in recession or heading for one.

☆ Americans are feeling worse about the US economy
▼ + stars: | 2022-11-11 | by ( Alicia Wallace | ) edition.cnn.com time to read: +2 min

Minneapolis CNN Business —Consumers were feeling slightly worse about the US economy in November, amid punishing rate hikes and decades-high inflation, according to a closely followed University of Michigan survey released Friday. The preliminary index reading from the monthly Surveys of Consumers showed sentiment fell to 54.7, from 59.9 in October. The survey showed that sentiment slumped both for current economic conditions as well as for those in the near future. The survey also showed that consumers’ inflation expectations for this year and five years out remained relatively unchanged. Final sentiment data for this month will be released Nov. 23.

☆ Consumer confidence is near its lowest in a decade, and that could be a problem for Biden
▼ + stars: | 2022-11-08 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

US President Joe Biden speaks during a DNC rally in Miami Gardens, Florida, US, on Tuesday, Nov. 1, 2022. The survey of 1,201 respondents saw Republicans with a 37%-21% edge on the question of which party is better for the economy. On overall sentiment, the Michigan survey saw a reading of 59.9 for October, 2.2% better than September but 16.5% below the same period a year ago. The University of Michigan survey also found respondents had more trust in Republicans when it came to the fate of their personal finances. The survey showed expectations running high that Republicans will prevail in Tuesday's election and wrest control of Congress back from Democrats.

☆ Asia-Pacific markets slip as recession fears weigh
▼ + stars: | 2022-10-17 | by ( Abigail Ng | ) www.cnbc.com time to read: +1 min

Pedestrians walk in front of an electronic quotation board displaying stock prices of the Tokyo Stock Exchange in Tokyo on March 7, 2022. Shares in the Asia-Pacific fell on Monday as recession fears weigh in over expectations of continued tighten monetary policies around the world. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.6% lower. Later in the week week, several countries in the region are slated to report inflation data, while Australia will release unemployment statistics and China will announce its loan prime rate decision. U.S. stocks closed the previous week lower after a University of Michigan survey showed inflation expectations were increasing.

The dollar also kept rising against Japan's beleaguered yen, hitting a fresh 32-year peak of 148.86. But as the session wore on, equity declines deepened with oil prices pushing energy stocks (.SPNY) down sharply and consumer stocks (.SPLRCD) falling sharply. "We're back to looking at inflation data very carefully. Even though Wall Street had rallied on Thursday despite soaring inflation data, investors appeared to return their focus to the data on Friday, according to Anthony Saglimbene, chief market strategist at Ameriprise Financial. The euro was down 0.55% at $0.9719 while the Japanese yen weakened 0.99% at 148.68 per dollar.

Search resuls for: "University of Michigan Survey"

5 mentions found