Richard Curtin
Richard Curtin
budgets caused consumers expect financial gas high impact prices situation year
High gas prices had a devastating impact on consumers' budgets and caused consumers to expect a worsening financial situation during the year ahead.
consumer months spending
Consumer spending will weaken in the months ahead.
additional anticipate consumers current declines due finances financial gains gas judged likely year
Consumers judged their current finances much more favorably due to declines in gas prices, and were more likely to anticipate additional financial gains during the year ahead.
bills both consumers cope difficult found gasoline higher home months winter
Consumers have found it especially difficult to cope during the winter months with both higher home heating bills as well as higher gasoline costs.
consumers continue future income job months pace result slow spending
Consumers have become increasingly pessimistic about their future income and job prospects, and as a result will continue to slow the pace of their spending during months ahead.
bush came confirmed consumers counting hear late people reinforce talking tends view
Consumers came upon this view (of a slowdown) on their own in late November, when Bush and Cheney were talking about counting votes, not the economy. But now to hear it confirmed by such people tends to reinforce the view there is a slowdown. It hasn't helped.
consumers economic growth higher interest overall pace rates slow ultimately
Consumers anticipated that higher interest rates will ultimately slow the overall pace of economic growth.
actual advance changes consumers quarters rate three
On average, consumers have anticipated changes in the unemployment rate three quarters in advance of the actual change.
consumers gains growth higher job rate result smaller somewhat
The growth slowdown anticipated by consumers is very mild, but just enough to result in smaller job gains and a somewhat higher unemployment rate during 2006.
although conditions economic expect growth judge overall pace quite slightly slower
Although firms did expect a slightly slower pace of growth, they still judge overall economic conditions quite favorable.
current finances future gap households prospects unusual view
The gap in how low- and high-income households view their current finances and future prospects is the widest in two decades. It's an unusual circumstance.
comparable confidence consumer declined extent last prior recessions time
The last time consumer confidence declined a comparable extent was prior to the recessions in 1990 and 1980.
confidence consumer decline economic fears linked loss personal represent security threat unlike usual
The loss in people's sense of personal security was linked to the decline in consumer confidence. Unlike other assessments of economic risks, these fears represent a significant threat to the usual functioning of the economy.
concern general pull types
I think their concern will be heightened by the president's affirmation. They will pull back in general on all types of spending.