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Consumers are riding a money anxiety rollercoaster so far this year; going up in the 1st quarter, down in the 2nd quarter and back up in the 3rd quarter.

The Money Anxiety Index resembles a rollercoaster so far this year.  In the 1st quarter, the level of money anxiety among consumers increased by 1.4 points to 79.3 due to severe weather conditions and the increase in health-care expenses related to the new health care law.  As a result, GDP for the 1st quarter was negative 2.1 percent.  

In the 2nd quarter of this year, the level of money anxiety among consumers subsided by 7.7 points to 71.6 mainly due to positive news on employment, which added over 200,000 non-farm jobs each month during the quarter.  The decrease in the level of money anxiety during the 2nd quarter pushed GDP up by 4.0 percent compared to the previous quarter.

However, as rollercoasters go, the 3rd quarter Money Anxiety Index is up again.  After a promising second quarter, the Money Anxiety Index increased 1.1 points thus far to 72.7 signaling higher level of financial anxiety among consumers as a result of economic uncertainty over the conflict with Russia.  As a result of higher money anxiety, July retail sales were flat and new home sales fell 2.4 percent in July.


 


Comments

09/09/2014 3:03am

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10/22/2014 3:22am

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