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| Home > News > Financial and Economic News > Gas and food prices have consumers feeling skittish |
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| Gas and food prices have consumers feeling skittish |
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| 4/21/2011
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As commencement ceremonies near for MBA degree students, many scholars are keeping close tabs on the state of the economy.
According to a recent report from private research group The Conference Board (TCB), economic growth should continue to strengthen into the summer, The Associated Press reported. TCB's index of leading economic indicators, which is a measure of future activity, rose by 0.4 percent in March.
It was the ninth straight month that the index increased. Although the economic news was promising overall, analysts said that consumers are concerned about inflation because of rising tax and food prices, according to the news provider.
Gasoline prices jumped 5.6 percent last month and have increased nearly 28 percent in the past year. In addition, retail good prices rose 0.8 percent in March.
Americans' optimism for future economic growth has waned because of escalating costs of necessities. According to the Bloomberg Consumer Comfort Index, the measure of expectations reached its lowest level since September 2010 this past week.
"Consumer sentiment is resting on the knife’s edge," said Joseph Brusuelas, a senior economist at Bloomberg. "Sentiment is likely to continue to move based on labor market conditions, fuel costs and equity prices."
Executives would be wise to gauge consumer confidence before launching a business endeavor in the coming months. |
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