Mexican Media Brands
Consumer Confidence Drops to 14-Month Low
Americans became more pessimistic about the economy in January when an increase in federal payroll taxes began to reduce take-home income, according to the New York City-based Conference Board.
#economics
Share
Americans became more pessimistic about the economy in January when an increase in federal payroll taxes began to reduce take-home income, according to the New York City-based Conference Board.
The research group's Consumer Confidence Index fell to 58.6 this month from a revised 66.7 in December. The gauge has fallen from 73.1 in October to the lowest reading since November 2011.
The board's index of current and future conditions also declined sharply. Economists note that as expectations decline, consumers are likely to curb spending.
The share of Americans planning to buy a car in the next six months fell to an 11-month low near 10%, according to the Conference Board. It says the percentage of survey respondents who expect more jobs to be available in six months dropped to about 14% from nearly 18% in December.
RELATED CONTENT
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data