Richard Curtin
Richard Curtin
additional blanket cold declines gas hopes increases prices recent thrown
The recent increases in gas prices have thrown a cold blanket on consumers' hopes for additional declines in gas prices.
coast due economic economy economy-and-economics expect expected following gas growth gulf improved increases interest lows mainly optimistic overall pace prospects recorded slower strong
Prospects for the economy have improved substantially from the lows recorded following the Gulf Coast hurricanes and the surge in gas prices. Firms still expect a slower overall pace of economic growth during 2006 than in 2005. The expected growth slowdown is mainly due to anticipated increases in interest rates. Firms are much more optimistic about their own prospects in 2006, as they expected strong growth in revenues and profits.
consumers fewer housing interest last positive prices rates since time views
We have fewer consumers who have positive views of housing prices of any time since 1982 and fewer consumers who have positive views of interest rates of any time since the last recession.
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One of the big stories today is that people are so happy with $2 gas. There is nothing better than a relative price decrease.
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There is a risk consumers will take the president's remarks as an indication that the situation is more serious than expected.
among becomes confidence consumer economic large matter parts personal renewal require restoring safety
Restoring consumer confidence becomes more than just a matter of economic stimulus. A renewal in confidence may also require the restoration of a sense of personal safety among large parts of the population.
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That certainly is part of the issue. People have stakes (in the stock market) have noticed these things. If you get to the top quarter or the top 10 percent, then these consumers have mentioned decline in stock market prices much more often.
concern general pull types
I think their concern will be heightened by the president's affirmation. They will pull back in general on all types of spending.
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If the economy produces jobs at a more rapid rate in the months ahead, these apprehensions of consumers could quickly fade.
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The sharp and sudden swing in consumer expectations was due to mounting fears among consumers that weak job growth and global job outsourcing may pose a threat to their future living standards.
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Declines in gas prices were responsible for the substantial gain, which nearly restored confidence to the levels recorded prior to the spike in gas prices last August.
anticipate closer compared consumers gas high levels prices relatively relieved remain
Compared with $3 gas, consumers were relieved that gas prices are now closer to $2. Nonetheless, consumers anticipate that gas prices will remain at relatively high levels for the foreseeable future.
actual advance changes consumers quarters rate three
On average, consumers have anticipated changes in the unemployment rate three quarters in advance of the actual change.
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High gas prices had a devastating impact on consumers' budgets and caused consumers to expect a worsening financial situation during the year ahead.