Newsroom
January 27, 2015
Consumer confidence at highest level since 2007
Consumer confidence in the economic recovery is at its highest level since 2007 – jumping to an index of 102.9 in January from a revised 93.1 in December – according to private research group The Conference Board.
"Tuesday's report on consumer confidence revealed a notable increase in both the present and future outlook of consumers," said NAFCU Chief Economist and Director of Research Curt Long. "In particular, households are more optimistic about the labor market and more confident that they will see wage increases this year. Wage growth has been a missing component from the recovery thus far and would potentially improve consumer spending and loan demand on the one hand, while also making the Federal Reserve more comfortable with an increase in short-term interest rates."
Lynn Franco, director of economic indicators at The Conference Board, said in a press statement Tuesday that "a more positive assessment of current business and labor market conditions contributed to the improvement in consumers' view of the present situation." She continued, "Consumers also expressed a considerably higher degree of optimism regarding the short-term outlook for the economy and labor market, as well as their earnings."
On the labor market front, The Conference Board survey revealed that consumers' outlook was also more positive. "Those anticipating more jobs in the months ahead increased from 14.6 percent to 16.7 percent, while those anticipating fewer jobs declined from 16.5 percent to 15.0 percent," according to its statement.
"Tuesday's report on consumer confidence revealed a notable increase in both the present and future outlook of consumers," said NAFCU Chief Economist and Director of Research Curt Long. "In particular, households are more optimistic about the labor market and more confident that they will see wage increases this year. Wage growth has been a missing component from the recovery thus far and would potentially improve consumer spending and loan demand on the one hand, while also making the Federal Reserve more comfortable with an increase in short-term interest rates."
Lynn Franco, director of economic indicators at The Conference Board, said in a press statement Tuesday that "a more positive assessment of current business and labor market conditions contributed to the improvement in consumers' view of the present situation." She continued, "Consumers also expressed a considerably higher degree of optimism regarding the short-term outlook for the economy and labor market, as well as their earnings."
On the labor market front, The Conference Board survey revealed that consumers' outlook was also more positive. "Those anticipating more jobs in the months ahead increased from 14.6 percent to 16.7 percent, while those anticipating fewer jobs declined from 16.5 percent to 15.0 percent," according to its statement.
Share This
Related Resources
Add to Calendar 2024-03-26 09:00:00 2024-03-26 09:00:00 Ensuring Safety and Soundness with AI Listen On: Key Takeaways: [03:48] The regulators are very focused on fairness in lending especially when it comes to using AI and outside models. The industry is moving very fast. [08:25] Articulating a business use case and how partnering with a Fintech can support it is the first step in having a successful conversation with your board. [10:30] Talk to your account executive at your Fintech and have them help you overcome objections. [15:01] Plan for oversight. It is not set and forget it. Your regulators are going to want to know how you are overseeing that from a 3rd party risk management standpoint. [15:47] Have a handle on your reserves and capacity for lending and start small and grow slowly. Web NAFCU digital@nafcu.org America/New_York public
Ensuring Safety and Soundness with AI
preferred partner
Upstart
Podcast
Help Ease Your Members' Loan Payment Concerns
Planning, Auto Loans, Research
preferred partner
TruStage
Blog Post
The Value of Risk Management in Cybersecurity
preferred partner
DefenseStorm
Video
Add to Calendar 2024-03-13 14:00:00 2024-03-13 14:00:00 Digital Assets in Credit Unions: What Are the AML Risks? The digital asset boom is upon us. Like it or not, you have to deal with it effectively with your members, credit unions are on the frontlines of crypto adoption. Even the NCUA has been providing more and more guidance on different aspects of digital assets. You need to be prepared. How? By understanding the core basics of digital assets (specifically cryptocurrencies) the risks that it poses to credit unions and how you can be better prepared to handle issues when they arise. In this webinar, Understanding the Digital Assets Boom, you’ll focus on the basics of digital assets, a background of cryptocurrencies and types, the regulations that are established and the proposals that are being considered and how to position yourself to understand all of these components and include them in your day-to-day roles. Key Takeaways Comprehend the basics of digital assets including cryptocurrencies Understand currently established regulations and what the future has in store, specifically in 2024 Identify and remediate issues that arise in your credit union Register Now $295 Members | $395 Nonmembers(Additional $50 for USB)One registration gives your entire team access to the live webinar and on-demand recording until March 13, 2025Go to the Online Training Center to access the webinar after purchase » Who Should Attend NCCOs NCRMs Compliance and risk titles Education Credits NCCOs will receive 1.0 CEUs for participating in this webinar NCRMs will recieve 1.0 CEUs for participating in this webinar Web NAFCU digital@nafcu.org America/New_York public
Digital Assets in Credit Unions: What Are the AML Risks?
Credits: NCCO, NCRM
Webinar
Get daily updates.
Subscribe to NAFCU today.