Consumer sentiment lags
Posted April 13, 2012 12:54 p.m. EDT
The Consumer Price Index report for March which was released Friday morning indicated that consumer prices rose 0.3 percent. This rise in prices is considered to be only slight, and keeps inflationary concerns at bay for now. This can be construed as good news for the housing sector, as it keeps pressure off the Fed to consider policy tightening for now.
The University of Michigan’s Consumer Sentiment Report worsened slightly Friday morning, falling to a reading of 75.7 from 76.2. The data indicates that consumers are still concerned over gasoline and other potential headwinds this spring.
Treasuries reacted positively to the news, meaning that prices increased and yields dropped back to 1.99 percent by the opening bell Friday.
According to a report released by the Business Journals, Raleigh was just ranked #2 behind Austin, TX, as the best city for small business in the nation. As we know, small business is the backbone for the U.S. economy, and being given this designation reinforces our Triangle fundamentals for continued growth and success.
Have a great weekend everyone!