Stock market analytics, financial forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

U.S. Consumer Confidence Reached an 18-year high in September Despite Trade War


September, 26 2018
watermark Economic news

The US consumer confidence grew to an 18-year high in September with households progressing more than the labor market that implies steady growth in the economy in spite of trade war between the United States and China.

Other data shows a moderate growth in house costs in July and profits may be enough to boost household and further encourage consumer spending. At the same time, this makes home pricing more budget friendly for first-time buyers.

According to the Conference Board, the consumer confidence grew to a reading of 138.4 in September from an upward revision of 134.7 in August, which was the best reading since September 2000. The index is near the all-time high of 144.7 the same year.

Economists forecast shows a decline to a reading of 132.0 this month compared to the August data of 133.4.

Despite the positive condition of the labor market in the background of a trade war, economists foretell the possibility of job losses and higher prices for consumers eventually.

On Monday, the US imposed tariffs costing $200 billion of Chinese goods while Beijing counterattacks with  $60 billion worth of U.S. products, as they have already implemented $50 billion worth of goods for each other.

As of the present, consumers seem to be putting off the trade tensions with households looking for a positive outlook in the next six months.

On the other hand, some economists see labor market tightening would drive wage growth and more savings can act as a safety net for households against higher costs of consumer goods from China.

Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.