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Consumer Confidence Drops in January as Consumers Turn Pessimistic

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The Consumer Confidence Index (CCI), one of two major indexes tracking consumer sentiment on the U.S. economy, dropped in January, following what appeared to be a turning point to the negative side in late December. The CCI, a monthly survey of consumers conducted by The Conference Board and widely followed by economists as a reliable gauge that probes consumers’ thoughts on the economy – both in a rating of their present conditions…and in their rating of the near-term future prospects.

What does this unexpected decline mean for the economy?

See more on this drop in the Consumer Confidence Index

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On Eve of CES 2025, CTA Projects Tech Industry Sales of $537 Billion

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CES slide showing its powered by the CTA

Warns of the Negative Impact of Trump Tariffs

This past Sunday, on the eve of this week’s launch of the Consumer Electronics Show (CES) 2025, the Consumer Technology Association (CTA) released updated projections for total Tech industry sales in the year, as is its custom. According to the trade association, total Tech industry sales are expected to reach $537 billion – the highest level in history.

Read more on CTA projections for total Tech sales in 2025

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Home Construction Looks to Rebound in 2024; Housing Starts & Builder Sentiment Up

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home construction looks to be picking up steam in 2024

The overall housing market has been an economic laggard as the country has seen its economy rebound in the post-pandemic era. The reason for this is primarily due to an unusual combination of high interest rates AND high home prices AND limited available inventory of homes for sale. It is a triple witching that has bedeviled the housing industry in the post-pandemic era.

But is housing about to turn up?

See how the latest housing starts data is a positive sign for home construction

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Streaming Service Subscriber Growth in U.S. Dropped by Half in 2023

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Graphic showing top streaming service providers

In what may be another sign of the post-pandemic blues, data published this week by research firm Antenna showed that growth in streaming service subscriptions in the U.S. dropped by 50% in 2023. Some are saying the boom in streaming is over…or could it be an over-adjustment that will correct itself and return to growth again soon?

See more on what’s happening with streaming service subscriptions

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Declining Inflation Propels Consumer Sentiment Higher & Bodes Well for 2024 Economy

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Photo of shoppers

**STORY UPDATED 2/2/24**

NOTE: Scroll down for a brief update – The latest economic data showing lower inflation appears to be finally registering with consumers as the latest preliminary reading of the University of Michigan Index of Consumer Sentiment jumped more than a massive 13% in just one month. This took the index to its highest reading in two-and-a-half years (since July 2021).

See more on the U of M Index of Consumer Sentiment

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A First – Data Shows Shipments of Smart Home Devices Dropped in 2022

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Graphic of digital TV a smart home device

For the first time since the category has been independently tracked, new data from market research firm International Data Corporation (IDC) shows that global shipments of smart home devices actually declined in 2022. Not only that but while the market researcher predicts that 2023 will see a bit of a rebound overall, its largest segment – Smart TVs – will likely decline again this year.

See the latest data on smart home device shipments

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Single-Family Starts in Nov Hit 2-1/2 Year Low

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single-family housing starts declined

Residential construction of new homes – known as housing starts – continues to register monthly declines as a combination of still-high home prices along with rapidly rising mortgage rates results in collapsing home affordability. While economists continue to debate if and when the U.S. economy enters a recession – it’s clear that housing overall, and the home building segment specifically – is already there.

See the latest data on single-family starts…

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Vinyl Record Resurgence: Unique to U.S….Or a Global Phenomenon?

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Tower Records opened a store in Japan selling vinyl records in 2021
Tower Records opened a location in Japan offering vinyl records in late 2021. ‘City Pop’ is a style of music from the 70s that is popular again in Japan [Click to enlarge]

By now, data clearly shows that vinyl record sales here in the U.S. have been growing steadily for more than a decade. When initially detected, many thought it was simply a fad… They thought that at first CDs…and then digital downloads…and finally digital streaming would supplant vinyl. Now we know that is just not the case and that vinyl is continuing to grow in importance again to the music industry.

Think this is just a U.S. phenomenon? Think again! A report by the Nikkei in Japan notes the dramatic growth of vinyl sales there, as well.

See more on the growing global influence of vinyl record sales…

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Consumer Sentiment by Income Turns Positive, Especially at Higher Incomes

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consumer sentiment by income

After 70+ days of declining gas prices and news that inflation has peaked, consumers are feeling a little bit better about things. And that is especially true of wealthier consumers, according to the latest reading from the Morning Consult/Axios Inequality Index – which includes consumer sentiment information broken down by income level.

See this latest reading of consumer sentiment by income

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U.S. Luxury Home Sales Plummet in Biggest Drop Since Onset of Pandemic

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In what is likely another sign of the housing market downturn, and perhaps a cooling of the overall economy, sales of luxury homes in the U.S. plummeted in the three-month period that ended in April, according to an analysis by Redfin Corp. as reported by Bloomberg News. The Redfin analysis covered the top 50 metropolitan areas and revealed the largest drop in sales of luxury properties since the onset of the pandemic.

See more on the decline of luxury home sales

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