RISMedia's Real Estate Magazine

SEP 2018

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

Issue link: http://remag.rismedia.com/i/1017650

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Page 117 of 134

RISMedia's REAL ESTATE September 2018 113 "Consumer confidence gained mar- ginal ground in July, after a modest decline in June," says Lynn Franco, director of Economic Indicators at The Conference Board. "Consumers' assessment of present-day condi- tions improved, suggesting that eco- nomic growth is still strong; however, while expectations continue to re- flect optimism in the short-term eco- nomic outlook, back-to-back declines suggest consumers do not foresee growth accelerating." Consumers' assessment of cur- rent conditions improved further in July. Those stating business condi- tions were "good" increased from 37.2 percent to 38 percent, while those saying business conditions were "bad" declined from 11.5 per- cent to 10.1 percent. Consumers' assessment of the labor market was also more favorable. Those claiming jobs were "plentiful" increased from 40.4 percent to 43.1 percent, while those claiming jobs were "hard to get" was virtually unchanged at 15 percent. Consumers' optimism about the short-term outlook waned again in July. The percentage of consum- ers anticipating business conditions would improve over the next six months increased from 20.7 percent to 23.1 percent, but those expecting business conditions would worsen also rose, from 9.3 percent to 10.8 percent. Consumers' outlook for the labor market was also mixed. The pro- portion expecting more jobs in the months ahead increased from 20 percent to 22.5 percent, but those anticipating fewer jobs also in- creased, from 13.1 percent to 15.7 percent. Regarding their short-term income prospects, the percentage of consumers expecting an improve- ment rose from 19.7 percent to 20.8 percent, but the proportion expecting a decrease also rose, from 7.9 per- cent to 9.2 percent. The monthly Consumer Confidence Survey®, based on a probability-de- sign random sample, is conducted for The Conference Board by Nielsen, a global provider of information and analytics around what consum- ers buy and watch. The cutoff date for the preliminary results was July 19. RE Source: July 2018 Consumer Confidence Survey® Consumer Confidence Increased Marginally in July T he Conference Board Consumer Confidence Index® increased marginally in July, following a modest decline in June. The Index stood at 127.4 (1985=100) in July, up from 127.1 in June. The Present Situation Index improved from 161.7 to 165.9, while the Expectations Index declined from 104 in June to 101.7 in July.

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