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Consumer Analysis: All Analysis Mar 12, 2010Labor Market Close to Stabilizing, Recovery Still Uncertain Layoffs have abated, but there is only slight improvement in hiring plans. Mar 10, 2010 Workers Losing Confidence in Retirement Capability Recession and corresponding lost wealth cushion have increased retirement concerns. Mar 10, 2010 Weekly Sales Summary ICSC and Redbook show conflicting signals about early March spending trends. Mar 09, 2010 ICSC, Redbook Sales Week Ending March 6 Consumers unleash pent-up demand as weather clears. Mar 05, 2010 Consumer Credit Breaks Its Year-Long Losing Streak Consumers borrow more to sustain spending. Mar 05, 2010 Weather Dampened Employment Less Than Expected in February Payrolls are beginning to stabilize thanks to an abatement in job cuts. Mar 02, 2010 Bankruptcy Filings Dip in Fourth Quarter But weights on household finances remain severe. Mar 02, 2010 ICSC, Redbook Sales Week Ending February 27 Volatility persists, but consumers' hesitancy remains apparent. Mar 01, 2010 Income: Wage Growth Balances Other Market-Based Weakness Revisions to the second half of 2009 lowered the level of wages and saving. Feb 24, 2010 Fed: Mortgage Credit Quality Is Still Weakening Consumer loans and credit cards stabilized. Feb 22, 2010 Stabilization in Mortgage Credit Quality Is Broad Based Delinquencies and foreclosure starts declined in the fourth quarter. Feb 18, 2010 Online Retail Sales Grow Modestly Sales are well above the prior year, in contrast to total retail spending. Feb 16, 2010 The Tale of Two Surveys Seasonal factors on top of a very challenging labor market muddle January's employment data. Feb 12, 2010 New Concepts Add Detail to Income Story While revisions make the recently ended recession appear even worse. Feb 10, 2010 Weekly Sales Summary Later Super Bowl lifts year-ago growth; underlying trend remains modestly positive. Feb 09, 2010 ICSC, Redbook Sales Week Ending February 6 Shift in Super Bowl and winter weather lift sales growth. Feb 05, 2010 Slow and Steady Improvement in Labor Markets January's job losses were in line with expectations, though the unemployment rate's decline was a surprise. Feb 04, 2010 Easy Comparisons Make January Chain Store Sales Look Good Year-ago declines not reversed. Feb 03, 2010 Weekly Sales Summary Weather plays a large role in more modest year-ago growth for the week. Feb 02, 2010 Price-to-Rent Ratio Narrows, but Not Enough High price-to-rent ratio encourages strategic defaults, adding to foreclosures. Feb 02, 2010 Credit Crunch Easing but Not Yet Turning Around Lenders will need to ease standards before credit can flow normally. Feb 02, 2010 ICSC, Redbook Sales Week Ending January 30 Bad weather limits year-ago growth in the latest week. Feb 01, 2010 December: Signs of Recovery Rather Than Deflation Better consumer spending will keep inflation low and positive. Feb 01, 2010 Consumer Spending Expands More Slowly Consumers spend less on goods, but more on services. Jan 29, 2010 Compensation Growth Points to Easing Labor Market Woes A strong bounce back, however, is unlikely. Jan 26, 2010 ICSC, Redbook Sales Week Ending January 23 Low sales volume distorting trend in spending measures. Jan 21, 2010 Weekly Sales Summary Low sales volume month bringing about greater volatility in sales measures. Jan 20, 2010 ICSC, Redbook Sales Week Ending January 16 Low sales volume contribute to seasonally typical volatility. Jan 15, 2010 QCEW Data Paint Bleaker Labor Market Picture Larger job losses will hold wage growth in check. Jan 15, 2010 Consumer Prices: The Pulse Gets Fainter With energy prices in a short-term downturn, inflation declines. Jan 14, 2010 Beige Book Shows a Modest Improvement in Holiday Sales Lean inventories could be a drag on January sales. Jan 11, 2010 Sharp Decline in Consumer Credit Consumers limit credit card balances even as they resume spending. Jan 08, 2010 Terrible Year for the Labor Market Ends With Disappointment Winter weather likely overstates some of the weakness in the December report. Jan 07, 2010 Holiday Spending Ends Stronger Than It Started Sales growth is good compared with the last two years. Jan 06, 2010 Vehicle Sales Finish 2009 on a High Note Consumers increase spending broadly, but sales remain very weak. Jan 05, 2010 ICSC, Redbook Sales Week Ending January 2 Consumers begin cashing in their holiday gift cards. Dec 29, 2009 Improving Expectations Drive Confidence Gains Assessment of the present situation remains bleak. Dec 29, 2009 ICSC, Redbook Sales Week Ending December 26 Last-minute holiday shopping provides a boost to chain store sales. Dec 28, 2009 Today's Consumer Story More restrained spending growth will be a legacy of the Great Recession. Dec 23, 2009 Inflation Continues at a Deflated Pace November data suggest deflation risks are abating, but still exist. Dec 23, 2009 Michigan Confidence Up a Little Less Revision implies confidence decline in late December. Dec 22, 2009 ICSC, Redbook Sales Week Ending December 19 Winter storm puts the freeze on chain store sales. Dec 21, 2009 Financial Obligations Fall Further in the Third Quarter Consumers work to control their budgets. Dec 15, 2009 ICSC, Redbook Sales Week Ending December 12 Delayed shopping holding back chain store sales. Dec 08, 2009 ICSC, Redbook Sales Week Ending December 5 Consumers holding back on their holiday cheer. Dec 07, 2009 More Costly Winter Energy Consumers will pay more for energy as the global economy recovers. Dec 04, 2009 Labor Market in Transition but Not Yet in Recovery Fewer job cuts are behind the surprising jobs report; evidence of a resumption in hiring is less clear. Dec 03, 2009 Beige Book: Spending Is Improving but Hurdles Remain Retailers turn more upbeat about holiday sales. Dec 02, 2009 Household Saving Higher Than It Appears In recessions, negative savings by nonprofits blur trends. Dec 01, 2009 ICSC, Redbook Sales Week Ending November 28 A better start to the holiday shopping season than last year. Nov 25, 2009 Spending Resumes Its Upward Trend Stronger spending is evident across many types of goods and services. Nov 25, 2009 Inflation: Still Low, Still Steady Thanks to moderate energy prices and weak demand, both core and top-line inflation are low. Nov 25, 2009 Personal Income Growth Stabilizing, Saving Increases Revisions highlight consumer focus on saving as government still supports incomes. Nov 24, 2009 ICSC, Redbook Sales Week Ending November 21 Declines in comparable week last year boosting growth figures. Nov 20, 2009 Risks to Mortgage Credit Quality Remain High However, signs of coming improvement are growing. Nov 19, 2009 Regional Spending Comparison 2008 Housing remains the dominant expense, but it varies significantly by region. Nov 18, 2009 Online Retail Sales Maintain Recovery Consumers remain cautious, and growth will be slow through spring. Nov 18, 2009 Consumer Prices Are Still Rising Despite lower consumer confidence, there is no sign of falling prices yet. Nov 18, 2009 Fed Data Confirm Coming Credit Quality Improvement Losses mount, but not for much longer. Nov 17, 2009 Housing Inventories Remain High House price declines will soon return as inventories and excess supply climb. Nov 17, 2009 Personal Income: Training Wheels Will Come Off Removal of government support will be a major hurdle for income and spending into 2011. Nov 16, 2009 Great Recession Pushes Poverty Higher Increases in poverty were nearly universal across demographic groups. Nov 13, 2009 Why Is Spending Improving While the Job Market Is Sinking? Better-educated, higher-income households have supported increased spending in recent months. Nov 13, 2009 Long-Term Drivers of Vehicle Sales: The New Normal Once pent-up demand from recession is released, vehicle sales will stabilize below prerecession pace. Nov 12, 2009 Aging Baby Boomers and Consumer Markets Aging boomers will create disequilibrium in consumer markets. Nov 10, 2009 ICSC, Redbook Sales Week Ending November 7 Small decline in ICSC ends six straight weekly gains. Nov 06, 2009 October's Employment Report Is Disappointing and Troublesome Unemployment increased by more than expected Nov 04, 2009 The Leading Edge of Baby Boomers Becomes Seniors The aging baby boomers will disrupt metropolitan markets. Nov 04, 2009 Vehicle Sales Start Down Slow Road to Recovery Sales improve more than expected in October. Nov 04, 2009 Energy Took a Greater Share in 2008 The burden on consumers has intensified in recent years; 2009 is likely only a temporary reprieve. Oct 30, 2009 Income Flatlines in September No change in taxes and little in inflation held real growth in check, too. Oct 30, 2009 Compensation Growth Holds at Low Level Wages and benefits touched historical lows in year-ago growth. Oct 27, 2009 Spending Distribution Improves Odds of Recovery High-income households cut back the most in 2008. Oct 22, 2009 Real Incomes Tumble According to CPS Annual Survey Data, real household income suffered its largest ever drop in 2008. Oct 15, 2009 No COLA, but White House Proposes One-Time Social Security Payment The proposal would fit with our outlook for additional stimulus. Oct 15, 2009 Inflation Stayed Level in September Moderating gasoline and service prices are keeping core inflation low. Oct 14, 2009 More Evidence of Firmer Spending in September Sales But lack of cash remains a constraint. Oct 08, 2009 Chain Store Sales Declines End September sales lifted by easing comparisons and calendar effects. Oct 07, 2009 2008 Consumer Expenditure Survey Highlights Survey shows consumer habits early in the recession. Oct 07, 2009 HMDA Data Reflect Changes in Housing Finance The mortgage market contracted in 2008 as a result of the housing and credit market crisis. Oct 02, 2009 A Step Backwards for the Job Market Job losses in September were larger than anticipated, but things are slowly getting better. Oct 02, 2009 Vehicle Sales Fall After Clunkers Incentive Ends Vehicle sales return to their previous pace. Oct 01, 2009 Mixed Signs From Consumer Credit Quality Consumer credit quality deteriorated further, with some signs of stabilization. Oct 01, 2009 Consumer Spending Surges in August Cash for clunkers lifts vehicle sales and total spending. Sep 29, 2009 ICSC, Redbook Sales Week Ending September 26 Sales are not moving consistently in either direction. Sep 25, 2009 Michigan Confidence Jumps in Late September Consumers may be starting to believe the recession is over. Sep 24, 2009 Consumers Remain Heavily Burdened Temporary surge in income reduced second-quarter burdens. Sep 22, 2009 ICSC, Redbook Sales Week Ending September 19 Typical seasonal spending plunge masks flat trend. Sep 17, 2009 Health Coverage Down With Job Losses Uninsurance rates rose in 2008, reflecting tough economic times. Sep 16, 2009 Inflation Is Slowing Rather Than Speeding Up Gasoline pushes up top-line CPI, but other consumer price growth slows. Sep 15, 2009 August Retail Sales Surprisingly Strong But they do not signal a change in consumer behavior. Sep 15, 2009 ICSC, Redbook Sales Week Ending September 12 Weaker comparisons send year-ago growth higher. Sep 11, 2009 An Army of Underemployed Underemployment is at an all-time high and will stymie the job market's recovery. Sep 10, 2009 Household Income 2008 Highlights Consistent with the beginning of the recession, income fell, while poverty and uninsurance rates rose. Sep 08, 2009 Consumers Will Struggle in Early 2010 Many weights will remain even with the recession over. Sep 08, 2009 Moderating Job Cuts First Step to Labor Market Recovery But unemployment is up to its highest rate since early 1983. Sep 02, 2009 Cash for Clunkers Drives Vehicle Sales Higher Sales will fall now that the incentive has expired. Aug 28, 2009 Income Holds Its Ground Wages edged higher, as the supports from government transfers and lower taxes faded. Aug 28, 2009 Prices Stay Flat in July The economy is on the mend, but deflation is still a serious downside risk. Aug 28, 2009 No Improvement in Confidence Yet Gains will gradually come as consumers realize the recession is ending. Aug 24, 2009 Social Security Increase Not Likely in January Although tied to the CPI-W, the cost-of-living adjustment cannot take benefits lower. Aug 21, 2009 Credit Quality Might Be Approaching a Turning Point MBA data confirm reasons for optimism. Aug 18, 2009 Fed Confirms That Credit Quality Weakened Further Consumer loan delinquency and default rates rise. Aug 18, 2009 Credit Crunch Still Squeezing Consumers The latest senior loan officer survey highlights banks' tightening lending standards. Aug 17, 2009 Online Retail Sales Grew for Second Straight Quarter E-commerce sales have likely bottomed, but recovery will be slow. Aug 14, 2009 Unemployment Will Remain Elevated for Years to Come Rising numbers of jobless older workers and productivity gains will keep unemployment higher. Aug 14, 2009 Inflation Is Not Around the Corner Without rising gasoline prices, inflation still trends downward. Aug 10, 2009 Declines in Consumer Credit Accelerate Consumer credit outstanding is at its lowest since 2007 as recession reduces consumer borrowing. Aug 07, 2009 Recovery Comes Into View Job losses are growing smaller with each passing month, but numerous pitfalls abound. Aug 04, 2009 Income Struggles Following Stimulus Boost Benchmark revisions also weighed on 2009 outlook. Aug 04, 2009 Core Inflation Holds, Top-Line Edges Up Higher gasoline prices push up top-line inflation, but core prices remain steady in June. Aug 04, 2009 Vehicle Sales Take Off With Government Help About 250,000 consumers cash-in their clunkers. Jul 31, 2009 Compensation Growth Not Encouraging Quarter-ago growth picked up, but compensation is weak on a year-ago basis. Jul 27, 2009 Recession Changes Shopping Behavior Consumers focus on necessities, not housing-related goods. Jul 25, 2009 Credit Conditions: A Light at the End of the Tunnel Emerges Early delinquencies fall despite reduced balances. Jul 24, 2009 Services Spending Share Has Steadily Grown The change has been driven by inflation and economic shifts. Jul 21, 2009 Consumer Spending on Vehicles Has Improved Modestly The disappointing sales in June were due to weak sales to businesses and the government. Jul 15, 2009 Consumer Energy Prices Jump, Core Prices Hold Higher prices at the gasoline pump led to a jump in top-line inflation for June, but core prices are steady. Jul 14, 2009 Foreclosures Weigh on Consumers Rising home foreclosures are weighing on the housing market, to the detriment of a consumer recovery. Jul 10, 2009 Recession's End Will Be Little Comfort to Consumers Jobs and wages will continue to fall after the recession's end. Jul 08, 2009 Consumer Credit Declined More Slowly in May Demand for credit remains weak even as spending gradually recovers. Jul 03, 2009 A Disappointing June Employment Report Job losses increased in June following four months of moderation. Jul 03, 2009 Vehicle Sales Take Wrong Turn in June Real spending likely fell 1% at an annual rate in the second quarter. Jul 01, 2009 Uneven Gains in Confidence Future improvement in sentiment hinges on labor and housing markets. Jun 30, 2009 Financial Obligations Ratio Post Another Decline A combination of slower borrowing growth and strong income gains. Jun 30, 2009 ICSC, Redbook Sales Week Ending June 27 Tentative signs that the recent spending slump is nearing an end. Jun 26, 2009 U.S. Still at Risk of Deflation Despite improved confidence, slow consumer spending is still pulling down retail prices. Jun 26, 2009 Consumers Choosing to Save Rather Than Spend Flat real spending trends are better than last year's steep declines. Jun 26, 2009 One-Time Payments, Lower Taxes Boost Income Growth Absent their influence, disposable personal income only edged higher. Jun 26, 2009 Michigan Confidence Resumes Its Ascent Confidence improves in late June after holding steady for two months. Jun 19, 2009 Cash-for-Clunkers Attempts to Jump-Start Vehicle Sales The bill will only have a modest impact on sales. Jun 17, 2009 Consumers Will Not Spend Merrily Holiday sales will not fall as fast as spending is now, though. Jun 12, 2009 Surging Permanent Joblessness Means a Long Labor Market Recovery Joblessness at a record high for prime-age men. Jun 11, 2009 Wealth Declines Continued in the First Quarter But they may have ended in the current quarter. Jun 05, 2009 Share of Spending on Nondurable Goods Has Fallen Within the segment, however, the composition of spending has shifted more subtly. Jun 02, 2009 Credit Card Legislation Ups Costs and Lowers Access Borrowers receive greater disclosure at the same time. Jun 02, 2009 ICSC, Redbook Sales Week Ending May 30 Both measures show slightly positive year-ago sales growth. Jun 01, 2009 Consumer Spending Inched Lower in April Spending is weak, but it is no longer in free fall. May 29, 2009 MBA Data Verify Weakening Credit Conditions Mortgage credit conditions weakened substantially. May 28, 2009 Education Needs Will Contribute to Long-Run Saving Education plays a not so insignificant role in saving trends. May 27, 2009 ICSC, Redbook Sales Week Ending May 23 Mixed reports consistent with flat spending growth. May 19, 2009 A Historical Overview of Spending Trends Consumer spending patterns have changed greatly since the 1950s. May 19, 2009 ICSC, Redbook Sales Week Ending May 16 Year-ago growth in both measures falls back below zero. May 15, 2009 Consumer Prices: Service Prices Up, Energy Prices Down Top-line inflation falls with energy prices, but core prices are still recovering. May 15, 2009 Online Retail Sales Manage Weak Growth E-commerce sales inched up in the first quarter but remain below 2008 levels. May 15, 2009 Upward Trend in Michigan Holds Confidence is climbing out of the cellar but remains very low. May 05, 2009 Credit Crunch Still in Place Banks are tightening standards, but at a slower rate than late 2008. Apr 30, 2009 Inflation Holds Steady in March Core PCE inflation holds low and steady for the third straight month. Apr 30, 2009 Spending Slips in March, but Signs of Recovery Remain Consumers spend more of their newfound cash. Apr 28, 2009 Hope Springs for Housing Recent indicators of housing give hope that the correction is bottoming. Apr 20, 2009 Credit Conditions Worsen and Balance Growth Ends As balance growth ends, faint signs of hope amid soaring defaults. Apr 17, 2009 Modification Efforts Have Had Mixed Success Though trends point to potentially more success down the line. Apr 14, 2009 Retail Sales Surprisingly Decline in March Special factors and weak fundamentals are to blame. Apr 10, 2009 Rapidly Rising Unemployment Tests Safety Net Duration of unemployment is increasing rapidly. Apr 09, 2009 Refi Surge Supplementing Household Cash Flow More favorable mortgage interest rates are a powerful incentive. Apr 03, 2009 Are We Nearing a Bottom for Job Losses? The worst may be over, but it is too soon to tell. Apr 02, 2009 Credit Quality Problems Intensified ABA data point to weak credit quality at the end of 2008. Apr 01, 2009 Government Finds New Ways to Stimulate Spending Policymakers target sales of homes and new vehicles. Mar 27, 2009 Consumer Prices: Stable So Far Consumer prices show no trend toward deflation, or back toward inflation, as of yet. Mar 27, 2009 The Very Wealthy, the Less Wealthy, and the Indebted The richest 1% of households became more wealthy before the credit crisis. Mar 26, 2009 Housing ATM Is Out of Business Net home equity withdrawal is negative for third straight quarter. Mar 24, 2009 ICSC, Redbook Sales Week Ending March 21 Sales declines accelerate but remain ahead of earlier in the year. Mar 20, 2009 More Safety, Less Income Money market fund change offers greater protection but lower returns. Mar 18, 2009 February Inflation: So Far, So Good So far, the U.S. has avoided both deflation and stagflation. Mar 17, 2009 ICSC, Redbook Sales Week Ending March 14 Sales growth flattening out, still far behind last year. Mar 16, 2009 How Consumers Use Debt The 2007 SCF showed increased usage of education- and real estate-related loans. Mar 12, 2009 Retail Sales Show Spending Declines Have Moderated Income increase in January lifted spending. Mar 10, 2009 Where Job Losses Hurt the Most Minorities and those with less education are bearing the brunt of the current downturn. Mar 06, 2009 Another Disastrous Month for the Labor Market Near-record employment losses in recent months. Mar 06, 2009 Mortgage Credit Conditions Tumble Further Mortgage credit conditions weakened further as more loans became delinquent. Mar 04, 2009 Beige Book Paints Grim Picture for Consumers Rising unemployment and declining wages will test household finances. Mar 04, 2009 Vehicle Sales Are Stuck in a Downward Spiral Both fleet and retail customers buy fewer cars. Mar 03, 2009 Shifting Trends in Saving Heading Into Recession SCF shows fewer homeowners report saving. Mar 03, 2009 ICSC, Redbook Sales Week Ending February 28 ICSC and Redbook take a step back; still better than a month ago. Mar 02, 2009 Distortions Drive Income Growth Adjustments to federal pay, transfers and taxes increased January's personal income figure. Mar 02, 2009 Real Spending Gets a Temporary Lift Several one-time factors boost personal spending and income. Feb 27, 2009 Less Spending Than Thought Late in 2008 But the downward revision was solely due to energy. Feb 27, 2009 More Homeowners in Financial Trouble During Housing Boom But overall debt burdens rose modestly. Feb 25, 2009 Fed Data Confirm Credit Quality at Record Lows Confirming evidence that consumer credit conditions deteriorated severely in 2008. Feb 24, 2009 Income Growth Under Pressure as Recession Began The 2007 SCF showed that median income edged lower between 2004 and 2007. Feb 24, 2009 ICSC, Redbook Sales Week Ending February 21 Marginal improvement in sales, still lagging behind last year. Feb 23, 2009 House Prices Lifted Middle Class Wealth Data from the 2007 SCF show increases in wealth and debt, especially for the middle class between 2004 and 2007. Feb 18, 2009 ICSC, Redbook Sales Week Ending February 14 Recent sales boost doesn't change weak trend. Feb 13, 2009 Highlights of the 2007 Survey of Consumer Finances More wealth was more equally distributed in 2007. Feb 13, 2009 No Signs of Improvement in Consumer Sentiment The one index showing some strength falls back. Feb 12, 2009 Recreation Industry Hit Headwinds in 2007 Revenue growth decelerated, further strain ahead. Feb 06, 2009 Still Looking for a Bottom...and Not Finding One Job losses continue to get worse and there is no end in sight. Feb 04, 2009 Housing in Crisis: An End in Sight With the help of policymakers, the unprecedented housing downturn will bottom at the end of this year. Jan 30, 2009 Compensation Growth Slows to a Crawl Wages and benefits are rising at their slowest pace in 25 years. Jan 26, 2009 Excess Inventories May Offer Consumers Bargains Retailer woes in some segments will benefit consumers. Jan 16, 2009 Consumer Prices: Deflation Is Possible but Not Likely Top-line prices fall, but core prices hold steady even with feeble spending. Jan 16, 2009 Recession Casts a Dark Shadow on Medical Expenditures Recession is curtailing medical spending. Jan 16, 2009 Why Wage Growth Is Still Holding Up The mix of jobs being lost explains why wage growth still appears decent. Jan 15, 2009 Beige Book: More Bad News for Consumers Sharp reduction in bonuses will hurt spending in the first quarter. Jan 09, 2009 The Worst Year for the Labor Market Since 1945 The self-reinforcing recession drove broad-based and deep employment losses in 2008. Jan 09, 2009 Consumers' Appetite for Credit Diminishes More evidence that consumers are packing it in. Jan 07, 2009 Consumer Credit Quality in Trouble Credit conditions weakened in most of the credit lines covered by the ABA. Jan 06, 2009 Vehicle Sales End Their Free Fall Sales inched upward in December, but they will remain weak for months to come. Jan 06, 2009 ICSC, Redbook Sales Week Ending January 3 Early 2009 improvement not enough to reverse consistent weakness. Dec 31, 2008 ICSC, Redbook Sales Week Ending December 27 A disappointing end to the holiday shopping season. Dec 24, 2008 Falling Prices Lift Real Spending in November A slight improvement in consumer confidence helps as well. Dec 24, 2008 Deteriorating Economy Drags Down Income Growth Wages and salaries contracted in November. Dec 24, 2008 Slower Population Growth and Migration in 2008 Growth was weakest in the Northeast and strongest in the West. Dec 16, 2008 ICSC, Redbook Sales Week Ending December 13 Consumers perhaps holding back for last-minute shopping. Dec 15, 2008 Spending Became Slightly More Balanced in 2007 Highest-income half of households still account for 71% of spending. Dec 09, 2008 ICSC, Redbook Sales Week Ending December 6 A disappointing second week of the holiday shopping season. Dec 09, 2008 Housing Takes Bigger Share of Spending However, growth slowed from previous years' fast pace. Dec 08, 2008 Energy Burden Increased CE survey shows gas led consumers to spend more on energy in 2007. Dec 05, 2008 Not the Great Depression, but Greatly Depressing Nonetheless November's job loss was the largest since 1974. Dec 01, 2008 NBER: U.S. Recession Began in December 2007 The question now is how long and severe will it be. Nov 28, 2008 Consumer Spending at an Inflection Point Spending's share of GDP will decline in the long run. Nov 26, 2008 2007 Consumer Expenditure Survey Highlights Smallest gain in average spending since 2003. Nov 26, 2008 Real Spending Retreats Further in October Lacking confidence, consumers are saving rather than spending. Nov 26, 2008 No Lift to Confidence From Tumbling Gasoline Prices Confidence consistent with a severe consumer recession. Nov 25, 2008 Conference Board Confidence Index Rebounds Modestly But confidence remains consistent with a severe recession. Nov 25, 2008 Fed Announces Plan to Support Consumer and Mortgage Debt Fed pledges $800 billion to unclog credit markets. Nov 20, 2008 Senate Extends Unemployment Insurance Benefits The extension will help but not cure all that ails the consumer. Nov 19, 2008 Households Get Creative in Search for Cash Lack of cash forces households to eat into retirement assets. Nov 19, 2008 Consumer Prices Reach Deflation Status Deflation a risk as monthly core CPI inflation falls in October. Nov 19, 2008 Online Retail Sales Slow Sharply E-commerce fails to avoid retail spending slump, outlook dark for the holidays. Nov 17, 2008 The Pain Is Not Over for Consumers Expect 2009 to be worse for employment, retail sales, and income growth. Nov 13, 2008 Deteriorating Labor Market Stresses Consumers Extension of unemployment benefits would help laid-off workers. Nov 13, 2008 Treasury Wants Improved Credit Availability U.S. takes aim at improving households' access to credit. Nov 12, 2008 Some Help for Distressed Homeowners Coming This will not be enough to stem the flow of foreclosures. Nov 10, 2008 Consumer Credit Recovers in September Demand for nonrevolving credit increases temporarily. Oct 31, 2008 Real Spending Resumes Its Decline Lacking confidence and cash, consumers reduce spending broadly. Oct 31, 2008 Personal Income Strength Not Actually Comforting Personal income rose, but wage income growth was weak. Oct 31, 2008 Strong Food Inflation Remains a Burden Inflation is moderating because of declining oil and gasoline costs, but food prices haven't gotten the message. Oct 31, 2008 Slow, Steady Compensation Growth Both wage and benefit growth were little changed from the second quarter. Oct 29, 2008 Real Estate Wealth Drag Is Severe Will drag on spending beyond the bottom in house prices. Oct 28, 2008 ICSC, Redbook Sales Week Ending October 25 Low gas prices provide some lift to sales, but only a little. Oct 21, 2008 ICSC, Redbook Sales Week Ending October 18 Falling gas prices outweighed by economic concerns. Oct 16, 2008 Financial Panic Hits Retirement Accounts Reduced retirement balance will influence consumer behavior. Oct 14, 2008 ICSC, Redbook Sales Week Ending October 11 Second consecutive weekly gain in ICSC fails to bring hope. Oct 10, 2008 A Crisis of Confidence Undermines Hiring Job losses will continue until confidence returns. Oct 08, 2008 Consumers Stopped Borrowing in August Consumer credit usage falls for the first time in 10 years. Oct 08, 2008 Does MEW Still Matter? Yes, but as a drag on sales as it declines for the first time since 1992. Oct 03, 2008 Labor Market Downturn Intensified in September Labor market conditions are set to deteriorate further in the fourth quarter. Oct 03, 2008 Credit Conditions Erode Further Relief from rebate checks was limited according to ABA data. Oct 03, 2008 Consumers Living With Family Do Best Those living with unrelated persons are the worst off. Oct 01, 2008 Insights Into the Relationship of Wealth and Savings III Saving rate has been improving in several age cohorts for more than two years now. Sep 30, 2008 ICSC, Redbook Sales Week Ending September 27 The ICSC's fourth consecutive weekly decline. Sep 25, 2008 Number of Americans in Poverty Increases Modestly Very little change in poverty rates across demographic cohorts. Sep 24, 2008 Insights Into the Relationship of Wealth and Savings II Easy access to credit and rapid asset appreciation had a negative impact on the saving rate. Sep 24, 2008 Policymakers Act to Combat Financial Crisis Even with the government engaged, the economic fallout will be significant. Sep 23, 2008 Financial Obligations Ratio Declines Tax rebates' boost to disposable income the major factor. Sep 19, 2008 Insights Into the Relationship of Wealth and Savings I Households' motivations for saving have changed significantly in last two decades. Sep 16, 2008 Inflation Peaks, for Now Headline inflation declined in August but core prices remain elevated. Sep 11, 2008 Home Mortgage Originations Tumbled in 2007 HMDA data show fallout from the bursting housing bubble. Sep 09, 2008 A—Temporary?—Moderation in Uninsured Rates Health insurance remains more common among old and young. Sep 09, 2008 ICSC, Redbook Sales Week Ending September 6 Moderating growth as tax rebates' impact fades. Sep 08, 2008 U.S. Takes Control of Fannie and Freddie Government actions will narrow mortgage spreads. Sep 08, 2008 MBA Data Point to Mounting Foreclosures Rebate checks had a measurable but temporary effect on mortgage credit quality. Sep 05, 2008 The Job Figures Prove It…We’re in a Recession Rapid labor market deterioration is spreading to all reaches of the U.S. economy. Sep 04, 2008 Vehicle Sales Finally Shift Into Forward Gear Light trucks break a year-long losing streak. Aug 29, 2008 Inflation Peaks Just in Time for Consumers PCE inflation is high, but poised to follow energy prices lower. Aug 29, 2008 July Income Growth Distorted by Rebate Effects A change in rebate distributions drives weaker personal income. Aug 26, 2008 Household Income 2007 Highlights Higher real median incomes and more health insurance coverage. Aug 26, 2008 ICSC, Redbook Sales Week Ending August 23 Mixed messages in two chain store sales reports. Aug 15, 2008 E-Commerce Sales Respond to Rebates Internet sales pick up in the second quarter, though year-ago growth slows. Aug 15, 2008 A Pop in Population Growth The Census Bureau's newest projections show faster population growth than previously forecast. Aug 15, 2008 Inflation Gas Pedal Is Off, but Speed Is Still High It will take some time before falling oil and gasoline prices are passed through to lower inflation. Aug 15, 2008 Confidence Surprisingly Slips While up for the month, confidence fell from late July to early August. Aug 13, 2008 Waning Rebate Impact Weighs on Retail Sales in July But modest growth continues outside autos. Aug 08, 2008 Job Losses Are Hitting Lower-Paid Workers More Higher-paying blue-collar jobs are also disappearing. Aug 06, 2008 Real Spending Takes a Step Backward Demand is exceptionally weak for motor vehicles and other durables. Aug 06, 2008 Inflation Might Have Turned the Corner June's PCE numbers herald slower inflation in the coming year. Aug 05, 2008 Modest Income Growth in June Lower rebate distributions make personal income comparatively weaker. Aug 04, 2008 Vehicle Sales Are Running on Empty Lower gasoline prices cannot lure buyers into showrooms. Jul 31, 2008 Wage Growth Dips in the Second Quarter Rounding masks a deceleration in wages and salaries. Jul 31, 2008 Spending Growth Slowed More Before Rebates Revisions show more slowing in spending growth. Jul 29, 2008 ICSC, Redbook Sales Week Ending July 26 Rebates and lower gas prices lift chain store sales. Jul 28, 2008 Minimum Wage Risks and Rewards Stimulus checks spent, higher minimum wage will support spending for low-income workers. Jul 25, 2008 Rebates Prove Preventative, Not Healing The gas price blow could have been so much worse. Jul 15, 2008 Retail Sales Concentrated on Necessities in June Pressures on consumer finances remain evident. Jul 14, 2008 More Responsible Mortgage Lending Fed finalizes plan to protect consumers from predatory lending. Jul 14, 2008 Troubles at Fannie and Freddie Will Extend Housing Correction Mammoth financial institutions vital to the nation’s housing market. Jul 09, 2008 Stimulus Checks Did Not Ease Credit Usage in May Revolving credit balances increase at a steady rate. Jul 07, 2008 Washington Lends Helping Hand to Laid-Off Workers But benefits to consumers will be limited. Jul 03, 2008 Labor Market Deterioration Continued in June Employment losses are broad-based, the unemployment rate remained elavated, and real income declined. Jul 02, 2008 Disaster for Vehicle Sales in June Consumers and auto dealers turn away from gas guzzlers in droves. Jun 27, 2008 Inflation Edges Up as Energy Prices Increase Inflation picked up slightly in May, thanks mainly to higher fuel costs. Jun 25, 2008 House Prices, Wealth and Spending Pin-pointing capital losses on housing assets depends on the price measure. Jun 18, 2008 Mortgage Equity Withdrawal Tumbles The full impact of falling MEW is waiting in the wings. Jun 16, 2008 Tax Rebates: Spending, but Not Happy About It? Retail data suggest rebates are being spent. Jun 13, 2008 Are Consumers Better Off Than Last Year?…Probably Not Real wages are falling across nearly every industry. Jun 04, 2008 Truck Sales Downshift Again Vehicle sales suffer as consumer preferences go through a sea change. May 13, 2008 Healthy Gain in April Retail Sales Excluding Autos Sales still dominated by food and energy prices. May 09, 2008 Brief Downturn and Rapid Jobs Recovery Fewer jobs created in expansion; fewer will be lost in recession. May 08, 2008 Demand for Consumer Credit Increases Consumers utilize both revolving and non-revolving credit. May 05, 2008 Banks Put the Squeeze on Lending Reduction in the availability of credit poses a challenge to spending. May 05, 2008 Cash-Out Refinancing Slams on the Brakes Share taking larger loan amount hits multiyear low. May 02, 2008 A Kinder, Gentler Recession This labor market downturn will be brief and comparatively painless. Apr 04, 2008 Convincing Evidence of Recession in March Jobs Report Labor market contraction has become a self-reinforcing trend. Apr 03, 2008 ABA Delinquency Rates Verify Weakening Credit Quality As stress on households intensifies. Mar 28, 2008 The Wait Is Over: Inflation Is Finally Coming Down Core prices showed weaker growth in February. Mar 25, 2008 ICSC, Redbook Sales Week Ending March 22 Weakest year-over-year growth in nearly five years by one measure. Mar 14, 2008 Stepping Out of the Labor Force Declining labor force participation reflects poor employment prospects. Mar 12, 2008 Financial Obligations Remain High Even though growth in debt payments is at a nearly 14-year low. Mar 07, 2008 The Recession Is Here Job losses in two consecutive months more than likely signal recession. Mar 06, 2008 Record High Energy Prices Exacerbate Consumer Woes Consumers scale back energy consumption. Feb 29, 2008 Inflation Weighs on Consumers Despite the current economic downturn, inflation for consumer goods and services remains stubbornly high. Feb 26, 2008 ICSC, Redbook Sales Week Ending February 23 Minor improvement in sales growth by one measure. Feb 20, 2008 ICSC, Redbook Sales Week Ending February 16 Energy prices and recession fears weigh on sales. Feb 15, 2008 E-commerce Sales Growth Rebounds in the Fourth Quarter Year-ago growth slows as headwinds strengthen. Feb 14, 2008 Home Cash-Outs: The ATM Is Closed The relationship between refi activity and cash-out volumes weakens. Feb 12, 2008 Mortgage Help Intensifies Policymakers step up efforts to help bail out mortgage borrowers. Feb 07, 2008 The Labor Market in Recession The recession outlook now calls for job declines through the first half of 2008. Feb 05, 2008 ICSC, Redbook Sales Week Ending February 2 Year-over-year growth below 2% for fifth consecutive week. Feb 04, 2008 Vehicle Sales Hit the Skids in January Weakening labor market weighs on consumer spending power. Feb 01, 2008 January Employment Report Tips the Scale for Recession January employment report confirms contraction in U.S. economy. Jan 31, 2008 Inflation Pushes the Limits But underlying fundamentals don't support further acceleration. Jan 30, 2008 Consumers Star Once Again Despite modest growth, real spending leads in the third quarter. Jan 29, 2008 Confidence Stabilizing? Conference Board index reversed December gains, but falls no further. Jan 18, 2008 One Step Closer to a Fiscal Stimulus Package President Bush calls for "rapid" tax relief. Jan 16, 2008 Inflationary Trends Remain Under Control Lower energy prices were some relief this month. Jan 15, 2008 ICSC, Redbook Sales Week Ending January 12 Weakest year-over-year growth since July 2003 by one measure. Jan 14, 2008 Job Seekers Need Not Despair in 2008 The economy will create plenty of jobs in 2008, even if it sinks into recession. Jan 04, 2008 Job Market Ends 2007 on a Sour Note The job market is now following suit with the rest of the economy. Jan 04, 2008 Vehicle Sales Improve Slightly as 2007 Ends But automakers cannot put a good spin on a bad situation. Jan 02, 2008 ICSC, Redbook Sales Week Ending December 29 Strong last-minute shopping puts a floor under sales. Dec 26, 2007 Consumers in 2008: Not a Pretty Picture Lower credit quality, spending and wealth growth. Dec 07, 2007 A Near-Perfect Jobs Report Spending growth hinges on the job market...and so far, so good. Dec 04, 2007 High-Income Households Drive Aggregate Spending Half of households account for 72% of spending. Nov 30, 2007 Underlying Inflation Continues to Hold Steady But energy prices accelerated again in October. Nov 28, 2007 More Evidence of Eroding Mortgage Credit Quality Fed data confirm household finances are stretched. Nov 20, 2007 ICSC, Redbook Sales Week Ending November 17 Retailers cross fingers as holiday shopping season approaches. Nov 15, 2007 Energy Takes Up a Larger Chunk of Spending No relief in sight as oil prices remain elevated. Nov 13, 2007 ICSC, Redbook Sales Week Ending November 10 Retailers crossing fingers as holiday season quickly approaches. Nov 09, 2007 Waiting for the Bottom to Drop Out of the Job Market The job market is much weaker than it looks. Nov 07, 2007 Consumer Credit Growth Hits a Speed Bump Weak demand for autos weighs on nonrevolving credit. Nov 05, 2007 Banks Tighten the Vise on Lending It's no longer a subprime story; prime borrowers pinched as well. Nov 02, 2007 October's Employment Situation: Too Good to Last The rebound in payroll growth hides worrying trends. Oct 31, 2007 Wage Growth Holds Up, for Now Developing slack in the labor market points to slower wage growth. Oct 05, 2007 No Slowing Down Demand for Consumer Credit Rebound in vehicle sales bolsters demand for nonrevolving. Oct 05, 2007 Only Moderate Job Growth Despite the rebound, there is ample evidence that the labor market is moderating. Oct 02, 2007 ICSC, Redbook Sales Week Ending September 29 Sales growth stalls following two weeks of hefty declines. Sep 26, 2007 Credit Problems Remain Isolated to Mortgages Slower hiring will lead to a deterioration in other segments. Sep 17, 2007 Equity Markets Supported Wealth in the Second Quarter Continued borrowing undercut housing wealth. Sep 17, 2007 The Effects of an Aging Population on Income and Spending Changing demographics will weigh on median income growth more than spending. Sep 14, 2007 More Job Declines? Further erosion in business and consumer confidence could send the economy into recession. Sep 11, 2007 Income Is Increasing...for Now Good news in the Census Bureau's recent income report may be overshadowed by current data. Sep 10, 2007 Consumers Turn to Credit Cards in July Installment credit continues to advance, led by revolving credit. Sep 07, 2007 Housing and Credit Woes Cast a Pall Over Labor Market Though August data overstate the weakness. Sep 06, 2007 Chain Store Sales Show No Financial Market Contagion Though August sales growth is modest. Sep 05, 2007 ICSC, Redbook Sales Week Ending September 1 Another week, another batch of soft sales reports. Aug 31, 2007 No Break from Moderate Spending Trend Spending growth is unlikely to accelerate over the near term. Aug 31, 2007 PCE Inflation Continues to Moderate Slower growth in energy prices helps lower the topline index. Aug 31, 2007 Confidence Crushed by Financial Turmoil But indices remain divergent and decline may have ended. Aug 30, 2007 Snapshot of Regional House-Price Trends Industrial Midwest, previously hot housing markets among weakest. Aug 28, 2007 Fed Data Suggest Mortgage Woes Are Contained Tight labor markets keep credit card delinquencies in check. Aug 28, 2007 2006 Household Income Highlights Real median household income up for second straight year. Aug 28, 2007 Confidence Drop in August Confirmed by Conference Board Confidence drops to one-year low. Aug 24, 2007 401(k) Plans Record Solid Growth in 2006 Average account increases for fourth consecutive year. Aug 22, 2007 Investor Jitters Slam Consumer Confidence Sentiment falls to lowest level since Hurricane Katrina. Aug 15, 2007 Inflationary Pressures Continue to Moderate Tame energy prices keep a lid on topline inflation in July. Aug 10, 2007 Downhill from Here for Jobs Preponderance of indicators points to weaker employment trends. Aug 08, 2007 Installment Credit Rises Modestly Weak auto sales will crimp demand for nonrevolving credit. Aug 01, 2007 Rise in July Confidence Confirms Lack of Trend Job and income growth offsets many weights. Jul 31, 2007 Income Growth Remains Moderate in June Revisions lift wages, personal income, and saving. Jul 31, 2007 ICSC, Redbook Sales Week Ending July 28 Sales improve as back-to-school shoppers hit the stores. Jul 06, 2007 Another Solid Employment Report in June The housing market has dampened job creation much less than expected. Jul 05, 2007 Vehicle Sales Take a Turn for the Worse Domestic vehicles and light trucks were especially hard hit. Jul 02, 2007 New Rules with Small Impacts Neither new lending nor pricing rules will have major effects. Jun 29, 2007 A Decent but Not Spectacular Spending Report Second quarter U.S. consumption growth tracking below 2%. Jun 15, 2007 Core Inflationary Trends Moderate Even though energy prices are a constant source of volatility. Jun 01, 2007 Where Are the Construction Job Losses? The payroll survey is likely not fully capturing housing's downturn. May 31, 2007 Mutual Funds Garner Growing Share of Household Wealth Comprehensive ICI report focuses 2006 investment industry trends. May 31, 2007 No Spring in Spring for Housing Housing activity remains muted at the height of the selling season. May 21, 2007 Mortgage Credit Quality in Trouble Payment resets will ensure things will get worse before they improve. May 16, 2007 Slower Growth in Internet Sales But the sales continue to gain ground on brick-and-mortar stores. May 14, 2007 Subprime Woes Force Banks to Tighten Lending Standards May extend downturn in housing market. May 08, 2007 Installment Credit Growth Bounces Back in March Rising gas prices and strong retail sales lift revolving credit. May 03, 2007 Apparel Inflation Returns The result of shifting cyclical, structural, and political factors. May 01, 2007 More Evidence That Housing Has Yet to Hit Bottom Rising homeowner vacancy rate bodes ill for wealth accumulation. Apr 27, 2007 Wage Growth Accelerates as Labor Markets Tighten For now, wage growth helps ease the pain from rising energy prices. Apr 24, 2007 Home Equity Extraction Boosted Personal Spending According to analysis by Greenspan and Kennedy. Apr 18, 2007 Corn for Ethanol: Modest Impact on Food Prices Corn prices slightly noticeable at retail level. Apr 16, 2007 The Labor Market's Demographic Headwinds Steady job growth has failed to raise the labor force participation rate appreciably. Apr 09, 2007 Installment Credit Growth Slows Demand will accelerate, particularly for revolving credit. Apr 06, 2007 What Jobs Slowdown? Trend job growth is still around 150,00 per month and the job market is tighter than ever. Apr 03, 2007 Why Has the Saving Rate Declined? The decline has been broad-based across population groups. Mar 21, 2007 Bad Loans Heighten Risks for Consumers The troubles in the subprime market will weaken consumer spending, but only slightly. Mar 20, 2007 ICSC, Redbook Sales Week Ending March 17 Sales improve but gas prices are back on consumers' radar. Mar 19, 2007 Downshift in Hiring Activity Businesses are turning more cautious about staffing expansions. Mar 01, 2007 Core Price Growth Picks Up in January Overall index lower due to volatility in energy prices. Feb 27, 2007 Fed Data Confirm Erosion in Mortgage Credit Quality Credit quality will be tested this year. Feb 21, 2007 ICSC, Redbook Sales Week Ending February 17 Sales growth posts second consecutive decline. Feb 13, 2007 ICSC, Redbook Sales Week Ending February 10 Sales are inconsistent, typical for this time of year. Feb 07, 2007 Fed's Bernanke Discusses Income Inequality As the gap continues to widen across income brackets. Feb 06, 2007 Fresh Energy Pain for Consumers Gas prices have bottomed out, and will rise in the next few months. Feb 05, 2007 Mortgage and Consumer Loan Demand Weakening Look for loan demand to slow further this year. Feb 02, 2007 Vehicle Sales Hold Steady in January High consumer confidence will drive near-term sales. Feb 02, 2007 A Soft Landing for the Labor Market Labor market trends are steady, notwithstanding weak January job gains. Feb 01, 2007 Spending Ends 2006 on a Positive Note Spending continues to support aggregate economic growth. Feb 01, 2007 Wage Growth Is Healthy, but Slowing Consumers are enjoying healthy wage gains, although growth seems to have peaked. Jan 17, 2007 ICSC, Redbook Sales Week Ending January 13 Colder weather and low gasoline prices support sales. Jan 16, 2007 A Tight Labor Market Puts Upward Pressure on Wages Recent wage trends are indicative of the tight labor market. Jan 12, 2007 A Decent Holiday Season December retail sales growth surprises, but November revisions offset the surprise. Jan 08, 2007 Installment Credit Growth Accelerated in November Revolving credit usage continues to accelerate. Dec 20, 2006 Job Growth Set to Continue Employment opportunities will remain steady in the new year outside of manufacturing and construction. Dec 08, 2006 November Jobs Report Stronger Than Expected Outside of housing and manufacturing, the labor market holds steady. Dec 08, 2006 Foggy Bottom for Housing The worst of the deterioration in housing looks over, but negative implications for consumer activity still loom. Dec 08, 2006 Weakening Expectations Hurt Michigan Sentiment Current conditions strong in early December. Dec 08, 2006 Installment Credit Retreats In October Led entirely by a reduction in nonrevolving credit. Dec 07, 2006 Wealth Grows, Borrowing Shifts Stock equity drives wealth gain; mortgage borrowing slows. Dec 06, 2006 Personal Bankruptcies Remain Quite Low But don't be fooled, consumer finances are being squeezed. Dec 05, 2006 More of the Same for Autos November’s vehicle sales are flat as auto makers struggle with a saturated market. Nov 17, 2006 E-Tailers Hoping for Happy Holidays E-commerce sales proving resilient to spending slowdown. Nov 14, 2006 Signs of Trouble Ahead for the Labor Market Labor market indicators show a still healthy economy, but signs of a slowdown are emerging Nov 03, 2006 Shock and Awe in the October Jobs Report The job market is much stronger than we previously thought. Nov 03, 2006 A Sign of Things to Come for Autos October’s weaker vehicle sales expected to set the tone for 2007. Oct 31, 2006 Wage Growth: Healthy But Peaking? Wage growth has improved to the fastest pace in four years, but further acceleration is unlikely. Oct 11, 2006 An Orderly Transition for the Labor Market The slowing economy is not all bad for the average worker. Oct 06, 2006 Job Growth Slows in September Although September's jobs report was weaker than anticipated, the details are not all bad. Oct 03, 2006 Housing Costs Become a Larger Burden Robust house-price growth and high energy costs are to blame. Sep 22, 2006 Income and Earnings Move In Opposite Directions Full-time employment and non-earned income growth prove keys to mystery. Sep 20, 2006 Wealth Levels Off Slower growth in housing wealth nearly offset by declines in stock equity. Sep 12, 2006 Retail Payrolls Under the Microscope Department stores and housing are to blame for retail's lackluster performance. Sep 12, 2006 ICSC, Redbook Sales Week Ending September 9 Sales soften as consumer finances face increasing headwinds. Sep 11, 2006 Installment Credit Inches Higher Revisions illuminate consumers willingness to take on additional debt. Sep 06, 2006 How Low Will Gas Prices Go? Do not get too excited as consumer fundamentals remain mixed. Sep 05, 2006 House-Price Growth Quickly Heading South Low affordability and rising inventories are the main catalysts. Sep 01, 2006 A Near-Perfect Employment Report Solid job gains and lower unemployment, only modest earnings growth stains the picture. Aug 30, 2006 2005 Household Income Highlights Higher incomes, especially for well to do; less health coverage. Aug 18, 2006 More Weakness in Michigan Confidence The sharp drop in early August is likely at least partially temporary. Aug 18, 2006 Alternative Measures of Core Inflation No matter how you slice it consumers face rising prices. Aug 18, 2006 Summer Heat Wilts E-Commerce Sales Growth Interest rate hikes and rising energy prices put the heat on consumers, wilting both e-commerce and retail sales growth. Aug 16, 2006 Demographics Between Decennial Censuses An aging, more racially diverse, and less traditional family structure characterizes recent demographic shifts. Aug 04, 2006 The Job Market Weakens in July Job gains disappoint and unemployment rises, but wage growth continues. Aug 03, 2006 Consumers Buy More Cars, but Not American Ones U.S vehicle market share sinks to new low. Aug 01, 2006 ICSC, Redbook Sales Week Ending July 29 Chain store sales data continue to show mixed results. Jul 18, 2006 ICSC, Redbook Sales Week Ending July 15 Rising gasoline prices continue to tame spending growth. Jul 18, 2006 Compensation Growth Accelerates Slightly in the First Quarter Wage growth remains well contained despite tight labor market. Jun 16, 2006 Mortgage Equity Withdrawal Remains Healthy But its support to consumption will begin to wane. Jun 16, 2006 May Employment Highlights Housing's Slowdown The long-anticipated slowdown is firmly under way. Jun 13, 2006 ICSC, Redbook Sales Week Ending June 10 Chain store sales reports mixed in the latest week. Jun 02, 2006 Another Disappointing Employment Report Retailers clearly anticipating spending slowdown. Jun 02, 2006 High Energy Costs Crimp May Vehicle Sales Vehicle sales fall to lowest pace of the year in May. May 31, 2006 ICSC, Redbook Sales Week Ending May 27 Another soft report prompts the ICSC to lower its May sales projection. May 18, 2006 Concerns About Gas Prices Mount A number of survey's find that consumers have gas prices on the mind. May 15, 2006 Wage Inequality Worsens The gap between the lowest and highest earners has grown considerably. May 08, 2006 Housing Continues to Buoy Spending Households continue to extract equity from their home. May 05, 2006 Job Growth Disappoints but a Rebound Is Likely Job growth was widespread in April outside of retail. May 02, 2006 ICSC, Redbook Sales Week Ending April 29 Chain store sales continue to impress on the back of warm weather and the Easter holiday. Apr 14, 2006 Consumer Credit Data The strengths and weaknesses of the G.19 statistical release are exposed. Apr 13, 2006 Moderate Sales Growth in March Top line matches expectations though some components surprise. Apr 13, 2006 Weak Michigan Confidence Rising gas prices and declining stock prices weigh on confidence. Apr 07, 2006 Wage Growth Takes a Breather in March Continued strong job growth will support incomes and spending. Apr 05, 2006 Mixed Fundamentals for Vehicle Sales Eroding affordability results in more moderate sales. Mar 28, 2006 High Income Households Account for Bulk of Spending Half of households account for less than a third of spending. Mar 03, 2006 Housing to Drive Wealth Increases a Little Longer Look for another solid increase in household net worth in the fourth quarter. Feb 06, 2006 Is the U.S. Homeownership Rate Peaking? Yes, 2005's retrenchment is likely the start of a trend. Feb 02, 2006 Vehicle Sales Surprised on the Upside in January But non-consumer purchases played a role. Jan 31, 2006 Housing Heading Down The housing market will weaken this year, removing a support to consumer spending. Jan 31, 2006 Wage Rates Remain Stagnant It's good on the inflation front but limits wage income growth. Jan 25, 2006 Outlook: Balance Sheets Growing wealth with aggressive borrowing and no saving will not last. Jan 23, 2006 Wage Growth to Accelerate This Year As labor market tightens, bargaining power of workers expected to improve. Jan 13, 2006 Shifts in Population Growth Despite steady national growth, there are shifts in regional population growth. Jan 11, 2006 Buying Plans Improve Consumer confidence enters 2006 riding a wave of ten consecutive weely gains. Jan 10, 2006 Vehicle Sales Will Weaken Despite Healthy Economy Vehicle industry will not be able to maintain sales that have diverged from trend levels indefinitely. Dec 28, 2005 ICSC, Redbook Sales Week Ending December 24 Chain store sales were positive in the latest week. Dec 20, 2005 ICSC, Redbook Sales Week Ending December 17 Chain store sales were mixed, but leaned on the positive end. Dec 19, 2005 Mortgage Delinquencies May Reverse Course Mortgage credit quality is near its cyclical peak. Dec 09, 2005 Michigan Confidence Recovers The last of the major indices to reach its pre-Katrina range. Dec 02, 2005 A Second Lackluster Month for Auto Sales Vehicles sales expected to remain below trend pace of recent years. Dec 02, 2005 Good or Bad? Wal-Mart's Effect on Consumers To what extent is criticism of Wal-Mart unfounded? Nov 29, 2005 ICSC, Redbook Sales Week Ending November 26 Weekly chain store data showed a healthy, but not stellar, start to holiday shopping. Nov 22, 2005 Another Healthy Quarter for Online Retail Sales But sales growth decelerated slightly in the third quarter. Nov 22, 2005 ICSC, Redbook Sales Week Ending November 19 Chain store sales were mixed in the latest week. Nov 21, 2005 More Affluent Seniors Future senior citizens will be both more numerous and more affluent. Nov 16, 2005 CPI Posts Modest October Gain The core CPI increase was also modest, but largest since March. Nov 15, 2005 ICSC, Redbook Sales Week Ending November 12 Chain store sales were soft in latest week due to warm weather. Nov 14, 2005 Consumers to Face Significantly Higher Heating Expenses Natural gas and heating oil are much more expensive than they were last year. Nov 08, 2005 ICSC, Redbook Sales Week Ending November 5 Chain store sales were strong on a weekly basis. Nov 07, 2005 China and U.S. Arrive at Textile Agreement U.S. industry imports in 34 industry categories restricted through 2008. Nov 04, 2005 October's Employment Report Sends Mixed Messages Weaker-than-expected job growth and higher-than-expected wage gains have mixed implications for consumers. Nov 02, 2005 October Auto Sales Hurt by the Summer's Pull-Ahead Buying October vehicle sales fall to weakest pace since 1998. Nov 01, 2005 ICSC, Redbook Sales Week Ending October 29 Chain store sales were positive in the latest week. Oct 31, 2005 Energy Prices Push Retail Deflator Above 3% Other than gasoline prices, few retail categories show much upward movement. Oct 31, 2005 Spending Patterns Unharmed by Hurricanes Mounting pressures do not faze the U.S. consumer. Oct 25, 2005 ICSC, Redbook Sales Week Ending October 22 Chain store sales were mixed in the latest week. Oct 21, 2005 Implication of Possible New Housing Market Regulation Attempt to soften the housing market will slow asset appreciation and cash flow. Oct 20, 2005 Where Are Wages Headed? Upward, but high energy prices and rising interest rates will lessen the benefits. Oct 18, 2005 ICSC, Redbook Sales Week Ending October 15 Chain store sales firmed during the latest week. Oct 14, 2005 Consumer Prices Post Big Gain Energy prices gains caused the biggest jump in the CPI in a quarter century. Oct 11, 2005 ICSC, Redbook Weekly Sales Ending October 8 Chain store sales increased again during the first week of October. Oct 07, 2005 A Resilient Labor Market Katrina's effect on the job market was much smaller than anticipated, highlighting the labor market's fundamental strength. Oct 05, 2005 Higher Fuel Prices Are Only Part of the Story Higher fuel prices are finally affecting vehicle purchase decisions. Oct 04, 2005 ICSC, Redbook Weekly Sales Ending October 1 Chain store sales increased during the last week of September. Oct 03, 2005 Debt Service Ratio Hits Another Record Mortgage borrowing drives up financial obligations. Sep 30, 2005 Consumer Inflation Reverses Course August data show a mild acceleration in a number of categories, with Katrina affects still pending. Sep 30, 2005 Consumer Spending Starts to Slow Slowing consumption may weigh on non-essentials spending. Sep 27, 2005 ICSC, Redbook Sales Week Ending September 24 Chain store sales were mixed in the latest week. Sep 27, 2005 Chairman Greenspan on Effects of Rising Rates Rising interest rates will increase personal saving. Sep 26, 2005 Rising Women's Income and Work Boosts Spending Personal service spending will particularly benefit. Sep 20, 2005 ICSC, Redbook Sales Week Ending September 17 Chain store sales were soft during the latest week. Sep 19, 2005 Mortgage Credit Quality Sound Through First Half Delinquency rates fell among the majority of loan categories in the second quarter although not in aggregate. Sep 19, 2005 Demographic Diversity Will Shape Future Consumer Income & Spending Demographic diversity is a key element in the strength and resilience of the American economy. Sep 15, 2005 Higher Energy Prices Push Inflation Back To Recent Peak Levels Core inflation remains tame, however. Sep 13, 2005 ICSC, Redbook Sales Week Ending September 10 Chain store sales reports were mixed for the week. Sep 12, 2005 Credit Quality Continues to Improve Credity quality remains strong as a result of healthy job and wage growth. Sep 12, 2005 Rising Affluence Boosts Consumer Spending Amid flat average incomes six figure households surge. Sep 09, 2005 Katrina: Impact on the Consumer Outlook Katrina will have significant near-term implications. Sep 06, 2005 Katrina: Accelerates Exodus From Louisiana Post-Katrina exodus from Louisiana is just a continuation of past trends. Sep 06, 2005 Wal-Mart Weekly Sales Ending September 2 Modest growth subject to Katrina and gasoline prices. Sep 06, 2005 Demographics Suggest Robust Earnings Growth Aging Baby Boomers will keep earnings growth strong. Sep 01, 2005 Other than Gasoline, Retail Prices Still Tame Higher energy prices will begin to affect other prices in the coming months. Sep 01, 2005 Katrina: Impact on Tourism Much depends on how high and how long gasoline prices trend higher. Aug 30, 2005 Income and Aging Trends Support Discretionary Spending The growth in households aged 55 to 64 is positive for discretionary spending. Aug 29, 2005 Katrina: Impacts on Income The composition of spending and income will be impacted more than the levels. Aug 29, 2005 Wal-Mart Weekly Sales Ending August 27 Sales come in near the bottom of Wal-Mart's projected range. Aug 26, 2005 Michigan Confidence Falls Sharply At least one measure of confidence tumbled in late August. Aug 22, 2005 Wal-Mart Weekly Sales Ending August 20 The retailer held its guidance firm in latest week. Aug 19, 2005 Internet Retail Sales Growth Accelerates Internet sales grew by 7.2% q/q during the second quarter, but their share of total retail sales gained very little. Aug 17, 2005 Fed Survey Shows Strong Consumer Credit Demand Consumer credit demand growth will slow as mortgage rates move higher. Aug 16, 2005 CPI Posts First Gain in Three Months Higher energy prices will eventually be reflected in core inflation readings. Aug 08, 2005 Wal-Mart Weekly Sales Ending August 6 Wal-Mart's recent run is expected to continue in August Aug 05, 2005 The Largest Earnings Increase in a Year Strong earnings are positive for wage and spending growth. Aug 05, 2005 Retail Executives Finally Recognize Improved Sales Executive remain upbeat about the outlook. Aug 04, 2005 The Auto Price Wars Continue Employee discount incentive will morph into lower permanent prices. Aug 02, 2005 Retail Inflation Moderates, but Higher Energy Prices Loom Retail price inflation has receded on a year-ago basis, but the respite will be temporary. Aug 02, 2005 Saving Falls to 0% Despite Faster Income Growth June data show stronger income growth, despite weak wage growth. Aug 02, 2005 ICSC, Redbook Sales Week Ending July 30 Chain store sales growth remained strong in July. Jul 29, 2005 Consumers Losing Leverage in Labor Markets Wage growth rate records slowest year-over-year growth ever. Jul 29, 2005 Consumers Stop Saving to Keep up with Economy Annual revisions to spending and income data are minor. Jul 29, 2005 Confidence Threatens to Exceed Recent Range But high energy prices keep it from happening. Jul 25, 2005 Wal-Mart Weekly Sales Ending July 23 The retailer's sales guidance holding through the third week in July. Jul 20, 2005 Outlook: Balance Sheets Household wealth at a record high, but balance sheets remain at risk. Jul 19, 2005 ICSC, Redbook Sales Week Ending July 16 Chain store sales experienced a modest boost in the latest week. Jul 18, 2005 Wal-Mart Weekly Sales Ending July 16 Sales during the latest week remain within the retailer's plan. Jul 14, 2005 June Retail Sales Growth Even Stronger Than Expected Surprises in the report were mostly on the upside. Jul 11, 2005 Wal-Mart Weekly Sales Ending July 9 Wal-Mart expects little slowdown in sales during the month ahead. Jul 11, 2005 Installment Credit Outstanding Falls Weak May auto sales and other sources of borrowing undermine growth. Jul 08, 2005 Retail Executives Dissatisfied Despite Strong Sales Confidence steady as traffic improves. Jul 08, 2005 Mixed Employment Report for June Employment growth is stronger in several higher wage industries, but losses continue in manufacturing. Jul 08, 2005 Desperate Moves by Big Three Auto Makers Are Good for Consumers New incentives could incite a new price war among domestic auto makers. Jul 06, 2005 ICSC, Redbook Sales Week Ending July 2 Chain store sales strong during the final week of June. Jun 30, 2005 Services Spending Remains Stalwart Though total spending growth was weak in May, services spending remains strong. Jun 30, 2005 Investors are Fueling Housing Markets Not only do they add to sales, they are contributing to soaring prices. Jun 28, 2005 Consumer Loan Delinquencies Paint Optimistic Picture Delinquency rates fell across most loan types in the first quarter. Jun 28, 2005 ICSC, Redbook Sales Week Ending June 25 Chain store sales growth slowed in the most recent week. Jun 21, 2005 ICSC, Redbook Sales Week Ending June 18 Chain store sales saw a marginal improvement in the latest week. Jun 17, 2005 More Evidence Confidence Has Turned All three major indices are decisively off their recent lows though all remain rangebound. Jun 14, 2005 Retail Sales Fall There were several factors responsible for the May decline, some fundamental, some technical. Jun 10, 2005 The Decline in Bankruptcy Filings Is Over, For Now Filing declined year-over-year in the first quarter. Jun 08, 2005 Consumer Credit Growth Unexpectedly Weak in April Consumers continue to tap home equity before installment credit. Jun 07, 2005 Tourism Growing Despite Obstacles Exchange rates and energy prices drive up travel costs. Jun 07, 2005 ICSC, Redbook Sales Week Ending June 4 Chain store sales were mixed during the latest week. Jun 03, 2005 Weak Job Growth in May Is Nothing to Worry About May's weak employment report is an abberation in a steadily growing job market. Jun 03, 2005 Shifting Incentives for Vehicle Buyers One of the factors supporting vehicle sales this year is growth in vehicle leasing. Jun 03, 2005 April Mutual Fund Flows Investors found bond funds more attractive and equity funds less attractive in April. Jun 03, 2005 Retailer Executives Slightly More Confident Retailer performance index remains within the narrow band seen over the past year. Jun 02, 2005 May Retail Sales Likely to be Weak Modest chain store sales growth will be overcome by other negatives. Jun 02, 2005 Continued Strong House Price Appreciation Will Lift Wealth House price growth accelerated in the first quarter. May 31, 2005 Wal-Mart Weekly Sales Sales for May will improve from April, but will be at the low end of projections. May 27, 2005 More Wage Income Not only the expected strong growth in April, but upward revisions as well. May 27, 2005 Durables Lead Spending Again Spending growth on vehicles and autos abated but still remained strong in April. May 25, 2005 Housing Strong Again Strength in the single-family housing market will continue to fuel consumer spending. May 23, 2005 Outstanding Internet Retail Sales Growth Continues Greater high-speed internet accessibility has aided sales growth. May 20, 2005 More Restrictions on Apparel Imports China increases tariffs as the U.S. government acts. May 18, 2005 Use of Nontraditional Mortgages Rises Homeowners are turning to nontraditional mortgages in order to afford a home, which poses risks for credit quality. May 14, 2005 Commerce Department Announces Apparel Quotas Are Coming Exact timing and magnitude not announced. May 12, 2005 Retail Sales Growth Accelerates But the April acceleration is partially due to seasonal adjustment issues and may be misleading. May 10, 2005 401(k) Participation Inches Up Participation increases even while household saving falls. May 10, 2005 Fed Survey Indicates Fading Consumer Loan Demand On the consumer side, banks are focusing on the mortgage market while long-term rates remain low. May 10, 2005 ICSC, Redbook Sales Week Ending May 7 Chain store sales gained on healthy Mother's Day sales. May 09, 2005 Consumer Credit Growth Held Steady in March Consumers continue to tap home equity before installment credit. May 06, 2005 Employment Report Bodes Well for Consumers March’s employment report shows strong gains in earnings and employment. May 05, 2005 April Disappoints Retail Executives The early Easter was largely blamed for weak April activity. May 04, 2005 Vehicle Sales Rebounded in April Higher gasoline prices are affecting mix of vehicles sold, not the number of vehicles sold. May 03, 2005 March Mutual Fund Flows Investors pulled money out of bonds and money market funds while reducing inflows to stocks. May 03, 2005 ICSC, Redbook Sales Week Ending April 30 Chain store sales indicators diverged again in the latest week. Apr 29, 2005 Energy Prices Continue to Weigh on Confidence But employment gains keep confidence range-bound since mid-2003. Apr 28, 2005 Consumers Lead Economy Again Real consumer spending growth outpaced economic growth in the first quarter as the saving rate fell. Apr 28, 2005 Tax Refund Growth Slows to a Crawl Income tax refunds are up less than 3% compared to last year. Apr 26, 2005 Consumer Confidence Weakens The Conference Board measure fell for the third month in April dropping below 100 for the first time this year. Apr 26, 2005 ICSC, Redbook Sales Week Ending April 23 Chain store sales experience modest weakness during latest week. Apr 21, 2005 Regional Spending Activity The Beige Book shows generally healthy consumer activity, limited by high energy prices, except where the weather interfered. Apr 20, 2005 China Considering Higher Textile and Apparel Export Tariffs Duties as high as 50 U.S. cents per item may be imposed on categories with surging exports. Apr 19, 2005 Fed's Bies Speaks on Household Debt Fed Governor Susan Bies downplays household debt concerns. Apr 19, 2005 ICSC, Redbook Sales Week Ending April 16 Chain store indicators diverge for second consecutive week. Apr 13, 2005 Retail Sales in March Were Weak Disappointing report suggests real non-auto consumer spending in March was weak. Apr 12, 2005 ICSC, Redbook Sales Ending April 9 Chain store sales indicators deviated sharply in latest week. Apr 07, 2005 Retailers' Executives Remain Upbeat Early Easter boosts March sales but fundamentals will continue to weigh on spending growth. Apr 05, 2005 Apparel Price Outlook Remains Cloudy The administration takes the first step toward new apparel quotas. Apr 04, 2005 Vehicle Sales Rebounded in March Higher fuel prices will change the mix of vehicles bought, not necessarily the number. Apr 04, 2005 Retail Sales Revisions Lower Growth in 2003 and 2004 Changes have no impact on the outlook. Apr 01, 2005 Weak Payroll Report and Its Implications March’s employment figures disappoint and suggest weak wage growth. Mar 25, 2005 Home Sales Boost Spending, But Tide to Turn Home sales remain strong for February, a plus for consumer spending in the near term. Mar 23, 2005 Inflation Inches Higher Higher inflation and inflation expectations will restrain consumer spending growth over time. Mar 22, 2005 Weekly Sales Summary Chain store sales improved during the latest week; department store growth approaching discount counterparts. Mar 18, 2005 Gasoline Immunization; But Will it Last? Consumers are taking the latest surge in energy prices in stride. Mar 16, 2005 Weekly Sales Summary Sales growth has been modest so far in March, but better growth is coming. Mar 15, 2005 Strong Retail Sales Report Substantial upward revisions to January sales and healthy February growth suggest consumers are still spending aggressively. Mar 15, 2005 ICSC, Redbook Sales Ending Mar. 12 Weekly chain store reports diverged during the latest week. Mar 11, 2005 Financial Obligations Benefit from Microsoft Dividend Excluding the Microsoft dividend, financial obligations rise again. Mar 10, 2005 Apparel Prices Likely to Fall Increased imports from China will lower apparel prices, but not immediately. Mar 09, 2005 Spending Squeeze Forecast increases in gasoline prices will limit growth of other spending. Mar 08, 2005 Consumer Credit Growth Accelerates Credit usage accelerated in January, but will remain moderate. Mar 04, 2005 Greenspan Calls for Consumption Tax A consumption tax would shift the tax burden and could lead to a higher savings rate. Mar 04, 2005 Headline Payroll Gains Mask Some Mixed Details For Consumers Continued weakness in income growth is a concern. Mar 03, 2005 Strong Sales Boost Retailer Optimism Retailers are more optimistic but consumer trends weaker than a year ago. Mar 03, 2005 January U.S. Mutual Fund Flows Stronger job gains will boost household investment wherewithal. Mar 02, 2005 Bankruptcy Filings Declined in 2004 The rate of decline accelerated in the fourth quarter. Mar 01, 2005 Governor Olson on Consumer Credit Credit availability will remain high into the near term. Feb 16, 2005 Chairman Greenspan on Consumers “Household spending may well play a smaller role in the expansion going forward.” Feb 16, 2005 Possible Positives for Consumer Spending Increases in refinancing activity and housing starts may be positives for spending. Feb 08, 2005 Consumer Loan Demand Remains Weak Credit usage grows slowly as banks report weaker demand for household loans Feb 04, 2005 Disappointing Employment Report The January employment report was mostly disappointing and suggests limited wage growth in the month. Feb 03, 2005 January Retail Sales Looking Weak Positive chain store sales are outweighed by fall in auto sales. Jan 31, 2005 Solid Income and Spending Growth in December Microsoft dividend distorts data that shows healthy underlying growth. Jan 28, 2005 The Confidence-Spending Relationship Confidence is a reasonable indicator of spending trends, but only over the long-term. Jan 28, 2005 2004 U.S. Income Growth Best Since 1999 Improving labor markets were a major driver of accelerating income growth. Jan 27, 2005 Another View of Labor Market Slack The Conference Board measures still indicate greater labor market slack than the unemployment rate. Jan 26, 2005 Outlook: Balance Sheets Household finances are generally healthy with variation by income group expected to moderate. Jan 21, 2005
Appetite For Risk Lifts Markets Spreads and other risk indicators yield optimism for 2005. |
| Moody's Economy.com |
