The current conditions subindex fell just 0.8 points and remains near the U.S. economic recovery’s high point.
Oddly perhaps, inflation expectations are moving higher, even as gasoline prices fall. The one-year expectation for inflation is now 3.3%. That’s a little difficult to parse, given that virtually every other 12-month inflation estimate is much closer to 2% going forward. What the inflation reading may mean is that consumers feel pinched as they get into serious holiday shopping mode.
Today’s drop in consumer confidence contrasts sharply with the earlier report out today on U.S. unemployment, which fell to 7.7%. Markets seem to prefer the sunnier view from the unemployment report, with the S&P and the Dow both up, while the Nasdaq is down fractionally.
Paul Ausick
Credit Card Companies Are Doing Something Nuts
Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.
It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.
We’ve assembled some of the best credit cards for users today. Don’t miss these offers because they won’t be this good forever.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
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