Richard Curtin
Richard Curtin
confidence declines gas last levels nearly prices prior recorded restored spike
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.
comparable confidence consumer declined extent last prior recessions time
The last time consumer confidence declined a comparable extent was prior to the recessions in 1990 and 1980.
among consumer consumers due fears future global growth job living mounting pose sharp sudden swing threat weak
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.
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.
anticipate continued economy economy-and-economics gains overall reported year
TEC firms reported that substantial gains in the overall economy have already occurred. They anticipate continued gains during the year ahead.
ability consumers create economy gas high living prices standards threat view
Consumers view high gas prices as a threat to their living standards and a threat to the ability of the economy to create new jobs.
happy people price relative stories today
One of the big stories today is that people are so happy with $2 gas. There is nothing better than a relative price decrease.
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.
consumer months spending
Consumer spending will weaken in the months ahead.
additional anticipate consumers current declines due finances financial gains gas judged likely year
Consumers judged their current finances much more favorably due to declines in gas prices, and were more likely to anticipate additional financial gains during the year ahead.
bills both consumers cope difficult found gasoline higher home months winter
Consumers have found it especially difficult to cope during the winter months with both higher home heating bills as well as higher gasoline costs.
consumers continue future income job months pace result slow spending
Consumers have become increasingly pessimistic about their future income and job prospects, and as a result will continue to slow the pace of their spending during months ahead.
bush came confirmed consumers counting hear late people reinforce talking tends view
Consumers came upon this view (of a slowdown) on their own in late November, when Bush and Cheney were talking about counting votes, not the economy. But now to hear it confirmed by such people tends to reinforce the view there is a slowdown. It hasn't helped.