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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Les H who wrote (217314)8/25/2009 11:08:29 AM
From: Les H of 306849
 
What Happened (Week Ending Aug. 23)

Consumer Confidence declined last week, as the percentage of Americans saying the economy is "getting better" fell to 36% from 40% the prior two weeks. Still, confidence for August so far remains up from 34% a month ago and 16% a year ago. At the same time, on a short-term basis, the percentage saying the economy is "getting worse" increased to 57% from 54% the prior week, but remains slightly better than the 61% of a month ago. Americans' views of the current economy also worsened for the week, with the percentage rating the economy "poor" going up two points to 46%.

Consumer Spending gave up its gains of the prior week, as self-reported average daily spending in stores, restaurants, gas stations, and online plunged $17 per day -- more than its $13 gain of the prior week -- and representing a 22% week-over-week drop. Spending is down 33% from its level of a year ago.

Job Creation was unchanged last week, with 24% of employees saying their companies were hiring. At the same time, the gap between job creation and job loss closed, as 24% also said their companies were letting people go -- down slightly from the 25% of the prior two weeks and the 26% of a month ago. The percentage of companies reported to be hiring is down 35% from the same week a year ago.

gallup.com
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