Intermarkets' Privacy Policy
Support


Donate to Ace of Spades HQ!


Contact
Ace:
aceofspadeshq at gee mail.com
Buck:
buck.throckmorton at protonmail.com
CBD:
cbd at cutjibnewsletter.com
joe mannix:
mannix2024 at proton.me
MisHum:
petmorons at gee mail.com
J.J. Sefton:
sefton at cutjibnewsletter.com


Recent Entries
Absent Friends
Bandersnatch 2024
GnuBreed 2024
Captain Hate 2023
moon_over_vermont 2023
westminsterdogshow 2023
Ann Wilson(Empire1) 2022
Dave In Texas 2022
Jesse in D.C. 2022
OregonMuse 2022
redc1c4 2021
Tami 2021
Chavez the Hugo 2020
Ibguy 2020
Rickl 2019
Joffen 2014
AoSHQ Writers Group
A site for members of the Horde to post their stories seeking beta readers, editing help, brainstorming, and story ideas. Also to share links to potential publishing outlets, writing help sites, and videos posting tips to get published. Contact OrangeEnt for info:
maildrop62 at proton dot me
Cutting The Cord And Email Security
Moron Meet-Ups






















« Ms. Marvel Fails to Get Even a Million Viewers on the ABC Broadcast Network; New Star Wars Series "Ahsoka" Bombs on Disney | Main | Quick Hits »
August 30, 2023

Consumer Confidence Falls to Levels Usually Seen During Recessions

Wait, the public doesn't have confidence in the steady hand of Joe Biden?

Hard to believe.

The confidence of American households in the health of the U.S. economy unexpectedly declined in August, with optimism about the future dropping near to levels typically associated with the approach of a recession.

The index of U.S. consumer confidence fell to 106.1 in August from a revised 114 in the prior month, the Conference Board said Tuesday. Economists had forecast a reading of 116.6, down slightly from the initial reading of 117.0 for July. The prior month's figure was revised down 114.0.

"Consumer confidence fell in August 2023, erasing back-to-back increases in June and July," said Dana Peterson, Chief Economist at The Conference Board. "August's disappointing headline number reflected dips in both the current conditions and expectations indexes.

The gauge of how consumers feel about current economic conditions declined to 114.9 from 153.0. The share of consumers saying jobs are plentiful dropped to 40.3 percent from 43.7 percent in July. The share of those saying jobs are "hard to get" rose to 14.1 percent from 11.3 percent.

The share of consumers saying business conditions are bad rose by one point to 17.2 percent. The share saying conditions are good was unchanged at 20.7 percent.

Consumer fears of inflation are once again on the rise.

Indeed -- JusttheNews reports that food prices are expected to rise throughout 2024.

Recently released federal pricing analysis from the U.S. Department of Agriculture projects that food prices will continue to rise through 2024.

The USDA pointed to the U.S. Bureau of Labor Statistics Consumer Price Index released earlier this month, which showed consumer prices overall rose 3.2% in the previous twelve months. Food prices, though rose more quickly at 4.9% during the same time.

Now, USDA says that increase will continue.

"Food prices are expected to grow more slowly in 2023 than in 2022 but still at above historical-average rates," USDA said in its analysis. "In 2023, all food prices are predicted to increase 5.9%, with a prediction interval of 5.3% to 6.5%. Food-at-home prices are predicted to increase 5.2%, with a prediction interval of 4.4% to 6.1%. Food-away-from-home prices are predicted to increase 7.1%, with a prediction interval of 6.8% to 7.5%."

Food prices are rising more slowly than the fever pitch inflation spike earlier in the Biden administration, but those prices are still increasing.

"Food prices are expected to continue to decelerate but not decline in 2024," USDA said. "In 2024, all food prices are predicted to increase 2.8%, with a prediction interval of -2.0% to 7.9%. Food-at-home prices are predicted to increase 2.1%, with a prediction interval of -5.1% to 9.9%, and food-away-from-home prices are predicted to increase 5.1%, with a prediction interval of 2.7% to 7.5%."

Food costs soared in particular in 2022, rising by 9.9%. While 2022 saw the largest spike, prices had already begun rising earlier in the Biden administration.

Oh well, if food is too expensive, you can instead eat Trans Propaganda, which is plentiful.


digg this
posted by Ace at 05:30 PM

| Access Comments




Recent Comments
Seems Legit: "How odd, I thought everyone understood that electr ..."

rickb223 Gold & Silver Spot Prices [s][/b][/i][/u]: "You’d think they would’ve come up with ..."

Commissar of Plenty and Lysenkoism in Solidarity with the Struggle : "MiG-29 has two sets of intakes Bonus hole. ..."

It's me donna : "270 242 To be fair, Elon did advise that there isn ..."

West Frisian Women's Auxiliary : "The red head gene mutation also enables them to dr ..."

eleven: "If there wasn't a steel re-enforced concrete wall ..."

SMOD: "DC_Draino @DC_Draino Think about this If Tr ..."

Sponge - F*ck Joe Biden: "[i]thus, his push to ship congolese lithium mining ..."

garrett: "What is the increased Mass of an Electric School B ..."

Thomas Paine: "242 To be fair, Elon did advise that there isn't e ..."

Skip : "Bet they won't get 10 years of use out of a EV Bus ..."

Sponge - F*ck Joe Biden: "[i]They handle 25% more pain than others, and repo ..."

Recent Entries
Search


Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
Powered by
Movable Type 2.64