Latest news with #ConsumerConfidence
The Independent
4 days ago
- Business
- The Independent
Consumer confidence weakens among Britons amid tax rise fears
Consumer confidence weakened slightly in July amid concerns from shoppers that they could face potential future tax rises, according to new figures. GfK's long-running Consumer Confidence Index dropped one point to remain in firmly negative territory at -19 points. Researchers suggested the figures showed that consumers are currently 'sensing stormy conditions ahead' amid wider uncertainty in the economy. The drop was shallower than expected by economists, who had predicted a reading of -20 for the month. The research found that its measure from consumers' view of the general economic situation for the country over the past year dropped one point to -44. Expectations for the general economic situation over the next 12 months also decreased by one point for the month. Meanwhile, the index for consumers' views on their personal finances remained steady but was still in negative territory. Nevertheless, there was a rise in the study's savings measure and people continued to seek to benefit from elevated interest rates. Neil Bellamy, consumer insights director at GfK, said: 'The key measures on personal finances, the economy and purchase intentions are flat in July, and many will conclude that consumers are in a cautious wait-and-see mood. 'But the data suggests that some people may be sensing stormy conditions ahead. 'With speculation growing over possible tax rises in the autumn budget, and price pressure contributing not just to higher inflation already but also to the likelihood of worse inflation to come, the news is worrying.' It came as figures from the Office for National Statistics (ONS) showed that retail sales bounced back 0.9% last month as record hot weather boosted sales of food and drink.
Daily Mail
20-07-2025
- Business
- Daily Mail
Labour levies push consumer confidence to year-long low
Consumer confidence is at its lowest for more than a year after Labour's tax hikes pushed up prices and cost jobs. Deloitte's index of confidence among households hit its lowest since early 2024 as figures last week showed unemployment at a four-year high of 4.7 per cent while inflation has surged to 3.6 per cent. Celine Fenech, a consumer insight expert at Deloitte, said: 'Concerns of a slowing labour market have left consumers worried about job security and income growth prospects, while persistent inflation and a high cost of living have negatively impacted sentiment towards personal debt.' Ian Stewart, chief economist at Deloitte, added: 'Higher inflation – well above levels in the US and EU – coupled with a weaker jobs market is weighing on consumer sentiment. 'The UK is unlikely to see inflation returning to the 2 per cent rate that prevailed last summer until well into 2026.'
Yahoo
24-06-2025
- Business
- Yahoo
Home Prices Decreased More Than Expected
We have a potentially newsworthy day for the stock market today, although pre-market trading is again shrugging off most of what might bring negative connotations. The blue-chip Dow is +265 points at this hour, +0.62%, while the S&P 500 is up +42 points, +0.70%. The tech-heavy Nasdaq again leads the way, up +213 points, +0.97%, while the small-cap Russell 2000 is +18, +0.87%. Bond yields are roughly where we left them as of yesterday's close: +4.35% on the 10-year and +3.85% on the 2-year. Oil prices have remained tame since temporarily spiking over the weekend with Middle East tensions. The WTI is currently $65 per barrel and ICE Brent crude is $67. Market resiliency is apparent via all of these various metrics this morning. The well-respected but relatively dusty Case-Shiller Home Price Index is out today, showing an overall +2.7% gains in home prices year over year. We say 'dusty' because this read is from April. The 20-city print was well below expectations of +4% growth to +3.4%, and down 70 basis points (bps) from the prior month's unrevised +4.1%. New York City once again led the way in price growth, at +7.9%. This was followed by Chicago at +6.0% and Detroit at +5.5%. The lowest in this survey was once again Tampa, -2.2%, which was only one of two cities in this index to post a negative April number (Dallas, at -0.2%, was the other). Thirty-year fixed mortgage rates were in the mid-6% range for most of April; we can expect further headwinds in this metric going forward, when mortgages crept back toward 7%. After regular trading gets underway today, Fed Chair Jerome Powell will testify before the House Financial Services Committee, to speak on the health of the economy and the likelihood that the Fed will resume interest rate cuts at some point during the current calendar year. We don't expect Powell to deviate from his statements and press conference last week, when the Fed voted unanimously to keep the 4.25-4.50% Fed funds rate steady for the fourth-straight meeting. Powell returns to the Hill Wednesday to face the Senate Banking Committee, much for the same reasons. His press conference last Wednesday was fairly comprehensive and Powell's comments were consistent with those he'd made in past months. We don't expect much change on this front in either of his appearances this week. The June print on Consumer Confidence comes out after today's open. Expectations are for this to ramp back up toward levels we'd largely maintained over the past few years, around 110 or so. But after the 'Liberation Day' tariffs were enacted in April, we saw a significant slide to 85.7. Today, analysts are looking for a 99.5 consensus, following last month's bump up to 98.0. Ultimately, these figures from The Conference Board do carry a certain level of volatility: highs of the past several years reached nearly 140 back in 2018, while the global financial crisis which resulted in the Great Recession back in 2009 sent Consumer Confidence below 30. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
24-06-2025
- Business
- Yahoo
Home Price Increases Cool, Fed Chair on Capitol Hill Today
Tuesday, June 24, 2025We have a potentially newsworthy day for the stock market today, although pre-market trading is again shrugging off most of what might bring negative connotations. The blue-chip Dow is +265 points at this hour, +0.62%, while the S&P 500 is up +42 points, +0.70%. The tech-heavy Nasdaq again leads the way, up +213 points, +0.97%, while the small-cap Russell 2000 is +18, +0.87%.Bond yields are roughly where we left them as of yesterday's close: +4.35% on the 10-year and +3.85% on the 2-year. Oil prices have remained tame since temporarily spiking over the weekend with Middle East tensions. The WTI is currently $65 per barrel and ICE Brent crude is $67. Market resiliency is apparent via all of these various metrics this well-respected but relatively dusty Case-Shiller Home Price Index is out today, showing an overall +2.7% gains in home prices year over year. We say 'dusty' because this read is from April. The 20-city print was well below expectations of +4% growth to +3.4%, and down 70 basis points (bps) from the prior month's unrevised +4.1%.New York City once again led the way in price growth, at +7.9%. This was followed by Chicago at +6.0% and Detroit at +5.5%. The lowest in this survey was once again Tampa, -2.2%, which was only one of two cities in this index to post a negative April number (Dallas, at -0.2%, was the other). Thirty-year fixed mortgage rates were in the mid-6% range for most of April; we can expect further headwinds in this metric going forward, when mortgages crept back toward 7%. After regular trading gets underway today, Fed Chair Jerome Powell will testify before the House Financial Services Committee, to speak on the health of the economy and the likelihood that the Fed will resume interest rate cuts at some point during the current calendar year. We don't expect Powell to deviate from his statements and press conference last week, when the Fed voted unanimously to keep the 4.25-4.50% Fed funds rate steady for the fourth-straight returns to the Hill Wednesday to face the Senate Banking Committee, much for the same reasons. His press conference last Wednesday was fairly comprehensive and Powell's comments were consistent with those he'd made in past months. We don't expect much change on this front in either of his appearances this week. The June print on Consumer Confidence comes out after today's open. Expectations are for this to ramp back up toward levels we'd largely maintained over the past few years, around 110 or so. But after the 'Liberation Day' tariffs were enacted in April, we saw a significant slide to analysts are looking for a 99.5 consensus, following last month's bump up to 98.0. Ultimately, these figures from The Conference Board do carry a certain level of volatility: highs of the past several years reached nearly 140 back in 2018, while the global financial crisis which resulted in the Great Recession back in 2009 sent Consumer Confidence below or comments about this article and/or author? Click here>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Invesco QQQ (QQQ): ETF Research Reports SPDR S&P 500 ETF (SPY): ETF Research Reports SPDR Dow Jones Industrial Average ETF (DIA): ETF Research Reports This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Standard
24-06-2025
- Business
- Business Standard
Pound strengthens as dollar loses safe haven appeal; GBPINR soars above 117 mark
GBPUSD surges to a weeks high above $1.36 mark on Tuesday tracking weakness in dollar overseas. Risk sentiment improved after President Trump announced that a ceasefire has been agreed upon between Iran and Israel, reducing appeal for the safe haven currency. Moreover, Fed Governor Bowman and Chicago Fed President Goolsbee said they favored a Fed rate cut at next months FOMC meeting weighing on the greenback. The dollar index that measures the greenback against a basket of currencies is quoting at 97.70, down 0.32% on the day. Investors await Chair Powells semiannual testimonies and the US June Consumer Confidence report later today for fresh cues. Meanwhile, in UK, BoE Governor Andrew Bailey's testimony before the Lords Economic Affairs Committee and speeches from Monetary Policy Committee (MPC) member Megan Greene and Deputy Governor Dave Ramsden during the day will be watched. GBPUSD is currently seen quoting at $1.3609, up 0.60% on the day. On the NSE, GBPINR futures climbed 0.77% to 117.09.
