Gas Prices Cutting Into U.S. Consumer Confidence?

March 25, 2005
Second only to March U.S. employment numbers, due out (no fooling) on Friday, April 1, economic eyes this week will be focused on the Conference Board's latest look at consumer confidence. The New York-based business research group's Consumer Confidence ...

Second only to March U.S. employment numbers, due out (no fooling) on Friday, April 1, economic eyes this week will be focused on the Conference Board's latest look at consumer confidence. The New York-based business research group's Consumer Confidence Index for March is scheduled to be released at 10:00 a.m. on Tuesday, March 29.

The big question is whether rising gasoline prices have begun to cause consumers to reconsider their spending. It's a significant question, since consumer spending accounts for about two-thirds of all U.S. economic activity. Merrill Lynch & Co., New York, figures that the 32-cent increase in the retail price of a gallon of gasoline between Jan. 1 and March 24 amounts to a $45 billion yearly drag on U.S. household cash flow.

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!