Goshen News, Goshen, IN

Community News Network

December 7, 2012

Americans in mood to spend at start of holiday

WASHINGTON — Consumer confidence held close to a seven-month high last week as the holiday-shopping season put more Americans in the mood to spend, and claims for unemployment benefits declined.

The Bloomberg Consumer Comfort Index eased to minus 33.8 in the period ended Dec. 2 from minus 33. The reading, within the margin of error of 3 percentage points, was the 11th straight above minus 40, a point associated with recessions and their aftermath. Jobless claims decreased by 25,000 to 370,000 in the week ended Dec. 1, the Labor Department said.

Holiday shoppers are taking advantage of discounting, expanded store hours and Internet deals, explaining why a gauge of the buying climate climbed to a five-year high. While confidence is getting a lift from cheaper gasoline and an improving job market, failure by lawmakers to prevent automatic tax increases threatens to throttle the household spending that accounts for 70 percent of the economy.

"I don't expect that consumers will hold back during the holidays," said Dean Maki, chief U.S. economist at Barclays Plc in New York. "I think the bigger risk is that as we move into the first quarter, if there's not a resolution on the fiscal 'cliff,' " Americans would cut back as their after-tax incomes decline.

The drop in claims was the third straight. The mid-Atlantic region, which employs about 14 percent of U.S. workers, is recovering after Sandy. Apart from the storm-related damage, which may also be reflected in the November payrolls report Friday, employers will probably curb hiring until the risks from the global slowdown and looming fiscal tightening dissipate.

A recovery in third-quarter household worth, boosted by higher stock values and home prices, may also make Americans more inclined to spend. Net worth for households and nonprofits increased by $1.72 trillion from July through September, or 2.7 percent from the previous three months, to $64.8 trillion, the Federal Reserve said Thursday from Washington in its flow of funds report.

Text Only
Community News Network
  • sleepchart.jpg America’s sleep-deprived cities

    Americans might run on sleep, but those living in the country's largest cities don't appear to run on much.

    August 20, 2014 1 Photo

  • Who should pay for your kids ACT?

    Thirteen states paid for 11th-grade students in all public high schools to take the ACT college admission test this year, with several more planning to join them in 2015.

    August 20, 2014

  • Pets.jpg Why do people look like their pets?

    As much as we might quibble over the virtues and vices of Canis domesticus, however, and over whether human nature is any better or worse than dog nature, even dog fanciers don't usually want to look like a dog.

    August 20, 2014 1 Photo

  • Ice bucket challenge trending up

    Internet trends are a dime a dozen these days. Everything from Tebowing to planking to the cinnamon challenge can cause a wave of social media activity that can last for weeks before fizzling out.

    August 19, 2014

  • Africa goes medieval in its fight against Ebola

    As the Ebola epidemic claims new victims at an ever-increasing rate, African governments in Sierra Leone, Guinea and Liberia have instituted a "cordon sanitaire," deploying troops to forcibly isolate the inhabitants in an area containing most of the cases.

    August 18, 2014

  • Democrat? Republican? There's an app for that

    If you're a Republican, you might want to think twice before buying Lipton Iced Tea, and forget about Starbucks coffee. If you're a Democrat, put down that Reese's Peanut Butter Cup, and throw away the cylinder of Quaker Oats in your pantry.

    August 18, 2014

  • Five myths about presidential vacations

    In the nuclear age, presidents may have only minutes to make a decision that could affect the entire world. They don't so much leave the White House as they take a miniature version of it with them wherever they go.

    August 15, 2014

  • Can 6 seconds launch a career? A generation of Vine stars sure hopes so.

    A year ago, Shawn Mendes filmed himself singing a tentative acoustic cover of the Justin Bieber song "As Long as You Love Me" and put the results on Vine. He wasn't expecting much response. "I didn't really want anything to happen; I just kind of wanted to see what people would think," says Mendes, 16. "I posted that first Vine and woke up the next morning with 10,000 followers. That was pretty cool."

    August 14, 2014

  • Freshman.jpg 8 crucial tips for college freshmen

    With school starting back up around the country, no one has a bigger deer-in-the-headlights look than college freshmen.

    August 14, 2014 1 Photo

  • A night in Ferguson

    For the past week in Ferguson, reporters have been using the McDonald's a few blocks from the scene of Michael Brown's shooting as a staging area. Demonstrations have blown up each night nearby.

    August 14, 2014

Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
AP Video
US Mission to Rescue Hostages in Syria Failed Manfred, Torre and MLB Take Ice Bucket Challenge Bank of America Reaches Record $17B Settlement Holder Reassures Ferguson Community With Visit GlobalPost CEO Remembers Foley As a Brave Man Seth Meyers Rolls Out Emmy Red Carpet Obama: World Is Appalled by Murder of Journalist Israel, Militants Trade Fire After Talks Fail Pres. George W. Bush Takes Ice Bucket Challenge Pierce Brosnan's Call to Join the Expendables Changes Coming to No-Fly List Raw: IDF Footage Said to Show Airstrikes Police: Ferguson More Peaceful Raw: Aftermath of Airstrike in Gaza Raw: Thousands March on Pakistani Parliament Raw: World's Oldest Man Lives in Japan Fire Crews Tame Yosemite Fire Raw: Police Weapon Drawn Near Protesters, Media Raw: Explosions in Gaza As Airstrikes Resume Charter Schools Alter Post-Katrina Landscape
Poll

Three Goshen elementary schools — Chandler, Chamberlain and West Goshen — are providing free meals to all students during the school year as part of the U.S. Department of Agriculture’s Community Eligibility Provision of the Healthy Hunger-Free Kids Act of 2010. Nearly 80 percent of students at Chandler, 89 percent of students at Chamberlain and 78 percent of students at West Goshen already qualify for free or reduced-price lunches based on their family income. How do you feel about the new lunch program?

I think it’s a good idea to feed all the students free of charge
I think those who can afford it should pay for their school meals
I think all students should be required to pay for their school meals
     View Results