Consumer Sentiment Jumps to Five-Month High
USA Today (06/26/15) Anita Balakrishnan
The consumer sentiment index rose 6% from May to June, according to the University of Michigan. The jump to 96.1 marks the biggest increase since 2004, beating expectations of 94.6, according to a Bloomberg survey.
The metric, which asks consumers to evaluate prospects for the national economy, their personal finances, and buying conditions, is reflective of the current uptick in consumer disposition, with the index now at a five-month high. “Consumer spending will remain the driving force of economic growth in 2015,” says Richard Curtin, the chief economist on the report. He forecasts 3% growth in consumer spending this year.
Kansas City Fed: Manufacturing Declined
Federal Reserve Bank of Kansas City (06/25/15)
Manufacturing activity in the Plains states declined at a slightly slower pace in June than in May, and producers’ expectations improved modestly. The month-to-month composite index was -9 in June, up from -13 in May. Durable goods manufacturing improved slightly, although still negative, particularly for aircraft products and parts. However, nondurable goods production fell broadly across all types of plants. Production fell in all district states except for Colorado, but continued to be most negative in energy-concentrated Oklahoma. The majority of other month-to-month indexes also remained negative. The production index contracted further from -13 to -21, its lowest level since February 2009. Also, the employment index fell back into negative territory after increasing last month.
ASA for You
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