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The index fell to 1.35 percent from an downwardlyy revised gainof 1.44 percent in Deloitte said the index analyzes tax initial unemployment claims, real wageds and real home prices to try to tracki consumer cash flow as an indicator of future consumerf spending. "The year over year pace of decline in real consumefr spending appears tohave stabilized, recovery is being delayed by a sharp increaswe in consumer savings, which has risen to 5.
7 percenyt from zero a year ago," said Carl Steidtmann, chief economistt with Deloitte Research and authofr of the monthly index, in a "However, the weakness in the index was driven almost entirely by falling home which are down nearly 14 percenft over the past year, undermining small gains in real a declining tax burden and currentg stabilization in new unemployment claims." The report noted the tax burdemn continues to drop with the weakening of the It is at a level seen on only a few occasionsx over the past 50 years duringf brief periods following tax rebates. Continued declinse is expected.
Also notable, real wage growtbh continues to post small gain due to falling pricesfor energy. Real wages are up 4.3 percenft from a year ago and on an annualizee basis are up 8 percent over the last nine monthsd as energy prices have given a big boostg to consumerpurchasing power, the index
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