28 Quotes by Richard Curtin

The sharp and sudden swing in consumer expectations was due to mounting fears among consumers that weak job growth and global job outsourcing may pose a threat to their future living standards.

TEC firms reported that substantial gains in the overall economy have already occurred. They anticipate continued gains during the year ahead.

Prospects for the economy have improved substantially from the lows recorded following the Gulf Coast hurricanes and the surge in gas prices. Firms still expect a slower overall pace of economic growth during 2006 than in 2005. The expected growth slowdown is mainly due to anticipated increases in interest rates. Firms are much more optimistic about their own prospects in 2006, as they expected strong growth in revenues and profits.

Declines in gas prices were responsible for the substantial gain, which nearly restored confidence to the levels recorded prior to the spike in gas prices last August.

Compared with $3 gas, consumers were relieved that gas prices are now closer to $2. Nonetheless, consumers anticipate that gas prices will remain at relatively high levels for the foreseeable future.

Although higher income and employment levels have offset the impact of rising gas prices on consumer confidence, there is a considerable degree of dread about future prospects among middle- and lower-income households.

Consumer spending will weaken in the months ahead.

Consumers judged their current finances much more favorably due to declines in gas prices, and were more likely to anticipate additional financial gains during the year ahead.

Consumers have found it especially difficult to cope during the winter months with both higher home heating bills as well as higher gasoline costs.