October 1, 2009 New Indicators…Economy Improving
The Consumer Confidence Index, a good measure of how Americans perceive the country’s employment capability, dropped in September to 53.1 from 54.5 in August. The number still remains substantially higher than its 25.3 reading in February.
Gross Domestic Product which is a widely observed indicator due to the fact that it measures total output was down for the second quarter of 2009 by -.07 %. This number is more optimistic than the first quarter which was down -6.4%.
Personal Income rose .2% in August from July and the savings rate as a percentage of disposable personal income was 3 %.
Construction spending in August 2009 increased 0.8% from July but declined 11.6% from August 2008, to $941.9 billion.