Mar 28, 2017

Consumer confidence hits highest level since 2001

Gene J. Puskar/AP

Consumer confidence hit a 16-year high, the Conference Board announced Tuesday, well above economist's expectations. The S&P 500 and Dow Jones turned positive following the news, after trading slightly down in early trading Tuesday.

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Data: The Conference Board; Chart: Andrew Witherspoon / Axios

Why it matters: 70% U.S. GDP is consumer spending, so survey data showing that consumers feel this good is bullish for the U.S. economy. The release dovetails with recent employment data showing very strong job growth, and these two forces should combine to power the U.S. economy to faster growth in 2017.

Go deeper

The generational confidence gap

Data: The Conference Board, DB Global Research; Chart: Axios Visuals

November's consumer confidence report showed the largest gap between the confidence of consumers under 35 and those over 55 in the history of the Conference Board's report.

The state of play: Younger people have typically had higher confidence scores, but that has changed in recent years, the data show.

Go deeperArrowJan 3, 2020

Wall Street has its best year since 2013

Data: FactSet; Chart: Axios Visuals

Wall Street had its biggest annual gain in six years — with the S&P 500 rising 29% and the Nasdaq Composite rising 35% in 2019. The Dow lagged behind other indices, but saw its biggest yearly gain since 2017.

Why it matters: U.S. stocks rebounded from 2018's year-end meltdown to log impressive gains, despite uncertainty stemming from the trade war and a slowdown in economic growth.

Survey: Top executives are pessimistic about the 2020 economy

Source: Deloitte; Note: Survey reflects CFO expectations for year-over-year increases in business spending and hiring; Chart: Axios Visuals

Chief financial officers are bracing for an economic slowdown this year, according to Deloitte's quarterly survey of nearly 150 executives at top North American companies.

Why it matters: Multiple surveys showed plunging optimism among top executives last year, thanks largely to trade war uncertainty. Deloitte's survey is a signal that skittishness continues to curb companies' hiring and spending plans this year, which could further hurt economic growth.

DetailsArrowJan 9, 2020