The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019 {{ new Date().getDay() }}

Washington (AFP) — U.S. consumer confidence increased for the second straight month in June to its highest level since January 2008, when the U.S. economy was sinking into recession, The Conference Board reported Tuesday.

The consumer confidence index rose to 85.2, up from 82.2 the previous month, with consumers more positive about the outlook for the labor market and holding greater expectations overall for the next six months.

“Expectations regarding the short-term outlook for the economy and jobs were moderately more favorable, while income expectations were a bit mixed. Still, the momentum going forward remains quite positive,” said Lynn Franco, director of economic indicators at The Conference Board.

More consumers saw current conditions as “good” than as “bad,” and those seeing job opportunities as rising increased to 16.3 percent of respondents, while the number of those expecting fewer opportunities declined to 18.7 percent.

Chris Christopher, director for U.S. consumer economics at IHS Global Insight, noted the gains came despite rises in food and gasoline prices.

“Consumer confidence may take a hit during the summer months if food prices keep on increasing and consumers start feeling the pump-price pinch,” he said.

AFP Photo / Andrew Burton

Interested in news about the economy? Sign up for our daily email newsletter!

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

President Joe Biden at the Port of Baltimore

Reprinted with permission from TomDispatch

In mid-October, President Biden announced that the Port of Los Angeles would begin operating 24 hours a day, seven days a week, joining the nearby Port of Long Beach, which had been doing so since September. The move followed weeks of White House negotiations with the International Longshore and Warehouse Union, as well as shippers like UPS and FedEx, and major retailers like Walmart and Target.

Keep reading... Show less

Sean Hannity

Reprinted with permission from Media Matters

President Joe Biden spoke to reporters on Monday, saying that the new omicron variant of COVID-19 was “a cause for concern, not a cause for panic,” and that the public response would be done “not with shutdowns or lockdowns but with more widespread vaccinations, boosters, testing, and more.” Fox News quickly began spreading false claims that Biden was about to impose more lockdowns — in a disinformation campaign that has spread across the network’s purported “straight news” side and even to its financial news channel.

Keep reading... Show less
x
{{ post.roar_specific_data.api_data.analytics }}