Quikrete Industry Dashboard
Consumer confidence declines in January, stocks show monthly gains
The latest version of the Quikrete Industry Dashboard continues to feel the pinch of the partial federal government shutdown. Residential construction and monthly retail stats remain in limbo, as the Commerce Department winds back into operation (at presstime).
There was action in the Consumer Watch area. The unemployment rate rose slightly to 4.0%. And Consumer Confidence declined to the lowest reading since July of 2017.
Here’s what Lynn Franco, senior director of economic indicators at The Conference Board said about the confidence index: “Consumer Confidence declined in January, following a decrease in December. The Present Situation Index was virtually unchanged, suggesting economic conditions remain favorable. Expectations, however, declined sharply as financial market volatility and the government shutdown appear to have impacted consumers. Shock events such as government shutdowns (i.e. 2013) tend to have sharp, but temporary, impacts on consumer confidence. Thus, it appears that this month’s decline is more the result of a temporary shock than a precursor to a significant slowdown in the coming months.”
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