Cheers and Happy New Year!
A New Year is upon us, and it is my hope we begin today a decade of the New Roaring 20’s - a time when our current triable politics takes a back seat to governing with pragmatism for the success of US on the international stage, and for the benefit of all Americans domestically…weaponized tariffs take a back seat to the economic equality of free and fair trade…wars/terrorism takes a back seat to a negotiated peace, and a religious freedom for all people…economists/global leaders continue to see the benefits of an Adam Smith “invisible hand” discourse, rather than advocating the social class iron fist of Karl Marx and Friedrich Engels…law-abiding immigrants are welcomed in any land they wish to call home…technology becomes more of a tool for the efficient communication and greater productivity of all, rather than a tool to spread partisan anger…I have so many resolutions for the sake of my children in the coming decade…some Pollyanna, others not; who is to say which is which?
…and one last economic leading indicator going into the new year…
31 Dec. 2019 Consumer Spending Unlikely to Gain Momentum in Early 2020
The Conference Board Consumer Confidence Index® decreased marginally in December, following a slight increase in November. The Index now stands at 126.5 (1985=100), down from 126.8 (an upward revision) in November. The Present Situation Index – based on consumers’ assessment of current business and labor market conditions – increased from 166.6 to 170.0. The Expectations Index – based on consumers’ short-term outlook for income, business and labor market conditions – decreased from 100.3 last month to 97.4 this month. “Consumer confidence declined marginally in December, following a slight improvement in November,” said Lynn Franco, Director of Economic Indicators at The Conference Board. “While consumers’ assessment of current conditions improved, their expectations declined, driven primarily by a softening in their short-term outlook regarding jobs and financial prospects. While the economy hasn’t shown signs of further weakening, there is little to suggest that growth, and in particular consumer spending, will gain momentum in early 2020.”
God Bless, and have a Brilliant New Year’s Day!
James Anthony Pavik Sr.
President & Chief Wealth and Investment Officer
ChFEBC℠ Chartered Federal Employee Benefits Consultant