Economic Indicators
§ The Consumer Confidence Index declined sharply (-18.6%) in February following 3 consecutive months of increases. Consumers’ short-term concerns about current business conditions and the job market were lower than any time in the past 27 years. Additionally, there is extreme pessimism about income prospects and job security, a continuation of the negative factors that have been affecting Confidence since late 2008.
View the Consumer Confidence Index here.
· The Consumer Price Index increased modestly in January to 216.6 points. The resulting change in inflation was moderate, with a slight decline to 2.6%. This is the 5th time in the past 6 months that the CPI has increased and the 3rd consecutive month of positive inflation, an indication that conditions are improved from the deepest parts of the recession in January of 2009.
§ Click here for Unemployment Rate
· The Travel Price Index increased moderately (+1.2%) in January, the first increase since July, 2009. Increased prices for motor and jet fuel, as well as increases in airfares and hotel / lodging rates were the major contributors to the rise in the TPI. For the third consecutive month Travel Prices are higher (4.5%) than at the same time last and TPI inflation continues a recent trend of outpacing the Consumer Price rate of inflation (2.6%).
