Consumer Confidence Index Rises To 101.4 In June, Solid Gain Pointing To Future Growth

[Purveyor]

Source: Associated Press

By MARTIN CRUTSINGER Associated Press
June 30, 2015 — 10:51am

WASHINGTON — Consumer confidence showed a solid gain in June following a modest increase in May, supporting the view that strong job gains are giving a boost to the overall economy.

The Conference Board said Tuesday that its consumer confidence index rose to 101.4 in June, up from a May reading of 94.6. The June level matches the level in March. The index took a tumble in April.

The index is now 17.4 percent higher than it was a year ago, evidence that the economy is poised to enjoy stronger growth in coming months.

The June gain, which was stronger than economists had expected, was supported by increases in consumer views about current conditions and the labor market. Those expressing the view that jobs were plentiful rose to 21.4 percent, up from 20.6 percent in the previous month.

Read more: http://www.startribune.com/consumer-confidence-index-climbs-to-101-4-in-june/310935531/

[Elmer S. E. Dump]

1. I guess I'll be;ieve it when I see it.

[jtuck004]

2. "A new national report finds homelessness is also rising."

Affordable Housing Crisis Grows Across the Country as Apartment Rents Skyrocket

...
According to a new study by Harvard University’s Joint Center for Housing Studies, vast stretches of the county are facing a rental housing crisis marked by big rent spikes. “The number of cost-burdened renters [paying more than 30 percent of incomes]… set a new high in 2013 of 20.8 million, totaling just under half of all renter households,” Harvard researchers found. “Although the number of severely burdened renters edged down slightly, the number of moderately burdened renters climbed by a larger amount.”

Most low to moderate income households are feeling a very big pinch. The researchers said that 80 percent of households with annual incomes under $15,000, three-quarters of renters with incomes up between $15,000 and $29,999, and 45 percent of households earning up to $44,999, are all “severely burdened,” with non-whites and single mothers facing the greatest financial stress.

“Minorities and certain types of households are especially likely to have severe housing cost burdens,” the report said. “Indeed, 26 percent of black households, 23 percent of Hispanic households, and 20 percent of Asian and other minority households were severely burdened in 2013, compared with just 14 percent of white households. Nearly a third of single-parent families also had severe burdens, compared with a tenth of married couples with children. Finally, more than half of households headed by an unemployed individual in 2013 were severely housing cost burdened.”

Cities where these pressures are prevalent include Los Angeles, New York, Honolulu, Miami, Las Vegas and Orlando, they said. “Moreover, affordability pressures in the 10 most expensive markets reach further up the income scale. In fact, nearly half (48 percent) of households with incomes of $45,000–74,999 were housing cost burdened in these metros—more than twice the share (22 percent) nationally. As a result, the nearly 20 million households living in the 10 highest-cost metros must earn well above the national median income of $51,900 to live in housing they can afford.”

...

http://www.alternet.org/economy/affordable-housing-crisis-grows-across-country-apartment-rents-skyrocket


Huh. I wonder whose necks we are stepping on to pocket those gains? As we "enjoy", it says.

[4139]

3. 26% Say U.S. Heading in Right Direction

http://m.rasmussenreports.com/public_content/politics/mood_of_america/right_direction_or_wrong_track