consumer sentiment
Americans saving morePosted by RJ and Makay on Jan 31, 2012 |
>> Read More RJ & Makay Blog Posts
American’s savings rate rose to 4% in December from 3.5% in November of last year as personal income rose 0.5%, the Commerce Department reported. The half-point increase was the biggest month-to-month gain since April 2010, according to economists at Credit Suisse. The gain represents a turnaround from the September to November 2011 period when consumers financed their purchases at a cost to personal savings.
Consumer sentiment rose to its highest level in six months in early December. An improving economic outlook and brightening jobs picture contributed to a reduction in consumer pessimism. The Thompson Reuters/University of Michigan preliminary index of consumer sentiment increased to 67.7 this month from 64.1 at the end of November.
The Consumer Reports Sentiment Index displayed continued weakness in the first part of October, decreasing slightly to 47.6 from 48.8 in September, while showing some hopeful signs of economic recovery. The 47.6 reading is up from 44.8 a year ago, and the Consumer Reports Stress Index fell to 58.2 this month from 68.2 in September. Indicators that track recent and planned spending rebounded after a 10-month low in September.
