The final Beige Book for the year was released today by the Federal Reserve. It showed modest growth in various industries across the country and some slowing.
Consumers are feeling the pinch of a weak economy, but banks and thrifts are doing okay, judging by recent statements from the National Foundation for Consumer Counseling, or NFCC, the Federal Deposit Insurance Corp., or FDIC, and the federal Office of Thrift Supervision, or OTS. First, the consumers. A recent NFCC poll found that 91 percent of
Retailers are nervously gauging the spending mood of the wealthy as we head into the holiday season. The stock market has been rising pre-holiday, but that doesn’t mean the greenbacks will be flowing at shopping sites this year. Many of the wealthy still feel chastened by the shaky economy, and are reining in the holiday
Bad news, everybody. The Conference Board Consumer Confidence Index fell this month, from 53.2 in August to 48.5 in September. Consumers aren’t harboring high hopes for the near future, either. The Expectations Index also fell – to 65.4 from 72 in August. Lynn Franco, director of The Conference Board Consumer Research Center, offered an explanation for