(Bloomberg 16-7-11) Consumers are turning more pessimistic about their income prospects, an indication that household spending will grow at a slower pace compared with a year earlier.
The share of Americans foreseeing a drop in wages over the next six months topped the proportion projecting an increase by 2.6 percentage points in June, data from the Conference Board, a New York research group, showed. That is the lowest reading since October 2010, according to Lynn Franco, director of the group’s consumer research center.
(Bloomberg 16-7-11) Consumer confidence in the U.S. rose last week as households became more upbeat about the state of their finances and optimism climbed among wealthier Americans.
The Bloomberg Consumer Comfort Index increased to minus 43.9 for the period ended July 10 from minus 45.5 the prior week. Even with the gain, which is within the survey’s 3-point margin of error, the gauge is lower than it was at the start of the year.
Tapestry and Capri End Plans for ‘Accessible Luxury’ Merger
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Tapestry, the owner of Coach, said it would abandon its $8.5 billion deal
to buy Capri, the parent company of Michael Kors, after the Federal Trade
Commiss...
48 minuti fa
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