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Consumer Confidence Index Report in for April

April 28th, 2017 Comments off
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Credit: Insight DIY.

The slog of “sausage making” in Congress was a contributing factor in the April Consumer Confidence Index, as it ticked down in April, but consumer outlook for the next six months remains positive.

According to CNBC, the Index dropped to 120.3 in April, while economists were expecting the index to only fall to 122.9 for the month.

 

As Daily Business News readers are already aware, the index hit a new record high last month and its highest level in 16 years, coming in at 125.6.

The index was at 116.1 in February.

Consumer confidence … still remains at strong levels,” said Lynn Franco, director of economic indicators at The Conference Board.

Consumers assessed current business conditions and, to a lesser extent, the labor market less favorably [in April] than in March. Looking ahead, consumers were somewhat less optimistic about the short-term outlook for business conditions, employment and income prospects.”

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Credit: CNBC.

The survey showed that individuals indicating business conditions are “good” declined to 30.2 percent in April from 32.4 percent, while those saying business conditions are “bad” increased slightly, to 13.8 percent from 13.1 percent.

Outlook for the labor market was also down slightly, as the proportion of people expecting more jobs in the months ahead declined to 23.0 percent from 23.8 percent.

 

From Confidence to Sentiment

The University of Michigan’s Consumer Sentiment Index came in at 97 for April, which was slightly below economists’ expectations of a 98 reading for the month.

Even with the dip, “there was widespread agreement among consumers on their very positive assessments of the current state of the economy as well as widespread disagreement on future economic prospects,” the university said in a statement.

Data from the Bureau of Labor Statistics (BLS) shows that over the first 100 days of the Trump Administration, the unemployment rate for 16-24 rear olds has decreased from 10.1 percent to 9.1 percent; the rate for 20-24 year olds has decreased from 8.3 percent to 7.3 percent, and the rate for 25-34 year olds has decreased from 4.9 percent to 4.5 percent.

Over 317,000 non-farm jobs have been created, and there have been surges in both the construction and manufacturing sectors.

Confidence is playing a large role,” said Mark Zandi, chief economist of Moody’s Analytics.

Businesses are anticipating a lot of good stuff – tax cuts, less regulation. They are hiring more aggressively.”

For more on the impact, and progress, of the Trump Administration’s first 100 days, click here. ##

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Small Business Optimism Index: January Results

February 17th, 2017 Comments off
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Credit: Oprah.

Almost one month into the Donald Trump administration, things continue to look up.

According to the National Federal of Independent Business (NFIB) survey, small business confidence, which saw the largest month-over-month increase in the survey’s history in December, has now reached its highest point in more than a decade.

 

 

The stunning climb in optimism after the election was significantly improved in

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Juanita Duggan. Credit, NFIB.

December and confirmed in January,” said NFIB President and CEO Juanita Duggan.

Small business owners like what they see so far from Washington.

The Index reached 105.9 in January, an increase of 0.1 points, the highest point since December 2004.

The continued surge in optimism is a welcome sign that economic growth is coming,” said NFIB Chief Economist Bill Dunkelberg.

The very positive expectations that we see in our data have already begun translating into hiring and spending in the small business sector.

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Credit: NFIB.

The NFIB survey is a monthly snapshot of small businesses in the U.S., which account for most private-sector jobs and about half of the country’s economic output. Economists look to the report for a read on domestic demand and to extrapolate hiring and wage trends in the broader economy.

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Credit: NFIB.

The January jobs report surprised pundits and disappointed critics, coming in strong and well ahead of ‘consensus,” said Dunkelberg.

NFIB survey results anticipated the strong showing as their optimism gets translated into hiring action. Gains in expected sales require more workers to produce output and handle sales. The increase in labor force participation was a welcome sign, suggesting that labor markets are not as tight as the unemployment rate indicates which went up, and that, as opportunities materialize and compensation rises, more workers will re-enter the labor force.

The report from the NFIB is based on a survey of 1,874 small business owners. According to the Small Business Administration (SBA), small companies represent 99 percent of all U.S. Employers.

We’ve had very low growth for years, mainly because small businesses have been tied down by regulations, taxes, and spiraling health insurance costs,” said Duggan.

Now they can see relief on the horizon, and they are much more optimistic about the future.

For more on last month’s NFIB survey and commentary from the manufactured housing industry, click here. ##

 

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Economic Confidence Index Hits New High – the Trump Effect?

February 9th, 2017 Comments off
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Credit: Infowars.

It appears that Americans saw the election of Donald Trump as good reason to be optimistic.

According to Newsmax, confidence in the U.S. economy soared to record highs at the time President Donald Trump officially entered the White House, as optimism was higher in January than in any other month since 2008.

 

Gallup’s “U.S. Economic Confidence Index” was at an average of plus 11, the highest monthly average in Gallup’s nine-year trend. The index peaked at plus 19 for the Jan. 21-23 three-day average after Trump’s inauguration and shortly before the Dow Jones industrial average hit a new high.

EconomicConfidenceIndexHitNewHightheTrumpEffectcreditGallup-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Gallup.

The Gallup index is actually an average of two components – how Americans rate the current economic conditions, and, whether they feel the economy is improving or getting worse. The index has a maximum of plus 100 if all Americans said that they economy was improving and doing well, and minimum of minus 100 if all Americans said the economy was doing poorly or getting worse.

In January, 31 percent of Americans rated the economy as “good or “excellent,” while 21 percent said the economy was “poor,” resulting in a current conditions score of plus +10, marking the highest monthly reading for this component since 2008.

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Credit: Gallup.

Also seeing an increase of plus 11 in January was the economic outlook component, which was the result of 52 percent of Americans saying economic conditions in the country were “getting better,” while 41 percent said they were “getting worse.

While his first few weeks have certainly been volatile and controversial, Trump will be a demanding leader who applies the best of his negotiating skills to push for U.S. growth,” said author David Horowitz.

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David Horowitz. Credit: Frontpage Mag.

Trump won’t be an ideological purist like Republicans who support free trade but don’t fight for fair trade.

Horowitz also made a strong statement about the prior administration.

We’ve had an anti-business president now for eight years who doesn’t take a hard-nosed attitude towards these deals. Trump is going to get better deals for us, which is still free trade.

Trump will also lead the way in making infrastructure spending to boost the U.S. economy,” said Horowitz.

If the economy grows as it will under Trump, there’s going to be a lot more money to spend.

For more on the effects of Donald Trump’s election on the U.S. economy, including small business optimism being at the highest level in 37 years, click here. ##

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Small Business Optimism Index Highest in 37 Years

January 16th, 2017 Comments off
SmallBusinessOptimismIndexHighestin37YearscreditBusinessFinancialServices-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: Business Financial Services.

America’s small businesses are very optimistic.

Per Bloomberg, The National Federation of Independent Business’s (NFIB) index jumped 7.4 points last month to 105.8, the highest since the end of 2004, from 98.4.

The December numbers represent the largest rise in optimism since 1980 as expectations about the economy’s prospects improved dramatically in the aftermath of the presidential election.

Rising confidence adds to the economy’s upward momentum,” said Jim O’Sullivan, chief U.S. economist at High Frequency Economics in Valhalla, New York.

SmallBusinessOptimismIndexHighestin37YearscreditNFIB2-postedtothedailybusinessnewsmhpronewsmhlivingnews

Juanita Duggan. Credit: NFIB.

The share of business owners who say now is a good time to expand is three times the average of the current expansion, according to data from the NFIB. More companies also said they plan to increase investment and keep hiring, which reflects optimism surrounding President-elect Donald Trump’s plans of spurring the economy through deregulation, tax reform and infrastructure spending.

We haven’t seen numbers like this in a long time,” said NFIB President and CEO Juanita Duggan. “Small business is ready for a breakout, and that can only mean very good things for the U.S. economy. Business owners are feeling better about taking risks and making investments.

The report from the NFIB is based on a survey of 619 small business owners through December 28th. According to the Small Business Administration (SBA), small companies represent 99 percent of all U.S. Employers.

SmallBusinessOptimismIndexHighestin37YearscreditNFIB-postedtothedailybusinessnewsmhpronewsmhlivingnews

Credit: NFIB.

Business owners who expect better business conditions accounted for 48 percent of the overall increase,” said NFIB Chief Economist Bill Dunkelberg. “The December results confirm the sharp increase that we reported immediately after the election.

The Manufactured Housing Industry Speaks

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Voices from around the manufactured housing industry also expressed optimism in the wake of President-elect Trump’s November win.

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Jim Clayton, credit, MHProNews.

 “The economy, regulations, and politics need disruptingStay tuned,said Clayton Homes Founder Jim Clayton.

I have become increasingly pleased with the outcome, but tempered that with cautious optimism.

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D.J. Pendleton. Credit, MHProNews.

It’s the dawning of a new day. After the shock and elation or disappointment wash over us, and we all have taken a collective deep breath, we can begin looking to the future. And in that future I think it is safe to say that changes, well, they are a comin’ in,” said DJ Pendleton, Executive Directory of the Texas Manufactured Housing Association.

“For any who might not yet be aware, in addition to President-Elect Trump heading to the White House, both the House and Senate will now be controlled by a Republican majority. All three branches of government are in Republican control. What will this mean? It simply means that there is little in the way of the Republican policy agenda.

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MHARR president and CEO M. Mark Weiss. Credit: MHProNews.

With a personal background in business, rather than government, Mr. Trump, during the just-ended campaign, has been a consistent critic of innovation-stifling and job-killing overregulation and regulators who ignore or rationalize the far-reaching negative impacts of such regulations on the health of the economy, smaller businesses and consumers,” said MHARR President and CEO M. Mark Weiss.

For more from the manufactured housing industry on the election and the economy, click here. ##

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

Mortgage Applications Decline

March 7th, 2012 Comments off

Mortgage Bankers Association LogoMortgage bankers report applications declined 1.2 percent for the week ending March 2, as refinancing activity slowed. The Mortgage Bankers Association (MBA) reports loan applications fell 1.2 percent on a seasonally adjusted basis, while the refinance index decreased 2 percent from the previous week. Also according to the report, investors made up 6.1 percent of home purchase applications in February, compared to 6.4 percent in January as demand declined in New England.The 30-year, FRM backed by FHA increased to 3.87 percent.

(Image Credit: MBA)

Mortgage Applications Decrease

February 22nd, 2012 Comments off

Manufactured Home, Eric Miller PhotoMortgage applications decreased 4.5 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 17. The Market Composite Index, a measure of mortgage loan application volume, decreased 4.5 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 3.6 percent compared with the previous week. The Refinance Index decreased 4.8 percent from the previous week. The seasonally adjusted Purchase Index decreased 2.9 percent from one week earlier. The unadjusted Purchase Index increased 1.4 percent compared with the previous week and was 9.2 percent lower than the same week one year ago.

(Image Credit: Eric Miller)

Mortgage Applications Increase in Latest MBA Weekly Survey

January 18th, 2012 Comments off

Mortgage Bankers Assn LogoMortgage applications increased 23.1 percent from one week earlier (last week’s results included an adjustment for New Years Day), according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 13, 2012. The Market Composite Index, a measure of mortgage loan application volume, increased 23.1 percent on a seasonally adjusted basis from one week earlier. The four week moving average for the seasonally adjusted Market Index is up 5.99 percent. The refinance share of mortgage activity increased to 82.2 percent of total applications from 80.8 percent the previous week. “Interest rates dropped last week due to continuing anxieties regarding the fragile economic situation in Europe,” says Michael Fratantoni, MBA’s Vice President of Research and Economics. Fratantoni continued, “With mortgage rates reaching new lows, refinance volume jumped and MBA’s refinance index reached its highest level in the last six months. Purchase activity also increased as buyers returned to the market after the holiday season.”

(Image Credit: MBA)

NAHB: Housing Markets Showing Marked Improvement

January 10th, 2012 Comments off

The National Association of Home Builders (NAHB) tells MHProNews.com that its First American Improving Markets Index (IMI) indicates the number of housing markets registering measurable improvement now numbers 76, up from 41 in December, 2011. The index measures housing permits, employment, and house prices for six months in a row in metropolitan areas. “While relatively small metropolitan areas continue to dominate the list of improving housing markets, it’s important to note that several major metros in diverse parts of the country have now joined the field as well – including ….. Dallas, Denver, Honolulu, Indianapolis, Nashville and Philadelphia,” says NAHB Chief Economist David Crowe. “This is an encouraging sign that gradually strengthening economic conditions are starting to take hold across a broader swath of America.” Only five metropolitan areas were removed from the improving list: Fort Wayne, IN, Canton, Ohio, Scranton, PA, Anchorage, Alaska, and Charleston, W. Va.

(Photo credit: National Association of Realtors)