Daily Update (Source: RBC Financial Group
US surge in consumer confidence kicked off 2015, existing home prices rose in November, and new home sales jumped in December
Jan 27, 2015
- US consumer confidence surged by 9.8 points to a more than seven-year high of 102.9 in January 2015 from 93.1 in December 2014. Market expectations had been for a reading of 95.0.
- The current employment differential improved sharply to -5.2 in January 2015 from -10.1 in December 2014, as consumers were more sanguine about labour market conditions.
- Consumer confidence in the US kicked off the new year at its highest reading since August 2007 in January 2015 and marked a stark improvement compared to the 86.9 average recorded during 2014. The improved sentiment occurred against a backdrop of healthy labour market gains, multi-year low prices at the gas pumps, and an improvement in household balances sheets
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