FILE PHOTO: Shoppers ride escalators at the Beverly Center mall in Los Angeles, California November 8, 2013. REUTERS/David McNew/File Photo
“Consumers finally are fully on board with the pending expansion,” said Robert Frick, corporate economist with Navy Federal Credit Union in Vienna, Virginia. “What remains to be seen is how quickly services industries such as travel and leisure will open up, allowing venues for consumers to release their pent-up demand.”
Stocks on Wall Street were trading lower. The dollar rose against a basket of currencies. U.S. Treasury prices were largely lower.The survey’s so-called labor market differential, derived from data on respondents’ views on whether jobs are plentiful or hard to get, rebounded to a reading of 7.8 this month from -0.8 in February. That measure closely correlates to the unemployment rate in the Labor Department’s employment report.
Probably has something to do with the ridiculous artificially low interest rates on all those things. And the shortage of houses on the market due to foreclosure moratoriums.
Irrational exuberance
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Hyper-consumerism supported by unmanageable personal debt and slave labor. Capitalism Enjoy
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