- The App Economy Is In Rude Health, Says Flurry, But Mobile Browsers Are Being Squeezed By Facebook, TechCrunch.com, April 3, 2013.
2. Consumer confidence slipped from an 18-year peak in November, the first such decline in five months. Fresh data from the Conference Board reveals that the outlook for business conditions has dulled. Respondents are also unsure about how fast their income will grow next year.
However, the index remains at an appreciably high level. Further, consumers are confident that economic expansion will continue in 2019. Significantly, the confidence in the job market remains undimmed, with unemployment at a near 50-year low.
Notably, consumer spending makes up nearly 70% of U.S. GDP. And despite the slight decline in confidence, American consumers remain an upbeat lot. This is why it makes sense to invest in consumer discretionary stocks heading into the New Year.
Outlook for Future Business Conditions Declines
The Consumer Confidence index declined from 137.9 in October to 135.7 in November. However, it still came in above the estimated level of 135.4. The Present Situation Index, which gauges consumers’ views about current market conditions, inched upward from 171.9 to 172.7.
This measure of the current state of the economy is only marginally lower than its highest level in 18 years. However, the Expectations Index, which is a measure of the short-term outlook, declined from 115.1 to 111.0.
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