Despite January's relative retail merchandising success in boosting sales for the second month in a row, according a panel of economists surveyed by Bloomberg News, consumers may not be espousing such a rosy vision for the future.<\/p>\n
The latest Thomsom Reuters\/University of Michigan preliminary index of consumer sentiment shows that optimism fell to 72.5 in January, from 75 in December, a separate article from Bloomberg reports.<\/p>\n
Prior to the index's release, Bloomberg News predicted that January would see only a slight fall in sentiment to 74.8. However, a 22-cent average increase in the price of a gallon of gasoline over the year has stifled the will to spend among some consumers.<\/p>\n
"It's likely due to the gas prices and some payback for the strong gains we've seen in recent months," Gus Faucher, a senior economist at PNC Financial Services Group, told the source. "The recovery is going to continue and spending will be good, but not great."<\/p>\n
Additionally, experts believe that an improving employment rate could help fuel spending and consumer confidence.<\/p>\n","protected":false},"excerpt":{"rendered":"
Despite January’s relative retail merchandising success in boosting sales for the second month in a row, according a panel of economists surveyed by Bloomberg News, consumers may not be espousing such a rosy vision for the future. Continue reading