Consumer confidence re-bounded nearly three points (to record levels) in April

By Staff -- Purchasing, 5/21/1998

Consumer confidence re-bounded nearly three points (to record levels) in April after a brief respite in the month prior. Consumer spending rose at a 5.7% annual rate in first quarter up from 2.5% in fourth-quarter 1997. One reason: Michael Niemira of the Economic Research Group at Bank of Tokyo-Mitsubishi in New York observes that discretionary income--the money left over after paying for essentials like food, shelter, and utilities--is booming. Tax breaks plus rising incomes and low inflation put discretionary cash at 17% of income in first-quarter 1998, Niemira reckons. If that share holds all year, it will be the highest on record since 1986 (17.8%).

Talkback

We would love your feedback!

Post a comment

» VIEW ALL TALKBACK THREADS

Related Content

• Topics
• Author

Related Content

 

By This Author

• Chemicals Business Intelligence
• New twist on low-cost-country sourcing
• Global chemical purchasing conference scheduled for September in Boston
• High manufacturing costs send paper prices soaring
• Dow Chemical to buy Rohm & Haas
• » MORE

Sponsored Links