This week in business: consumer confidence, inflation updates
Checking confidence?
The Conference Board on Tuesday releases its gauge of consumer confidence for September.
Economists project that confidence fell slightly this month. The Conference Board’s consumer confidence index surged in July to 114, its highest level in 24 months and has generally been strong since late in 2022. A reading of 90 or better reflects a healthy economy.
Consumer confidence, by month:
April 103.7
May: 102.5
June: 110.1
July: 114.0
Aug.: 106.1
Sept. (est): 105.4
Source: FactSet
Measuring inflation
The Commerce Department releases its August snapshot of U.S. consumer spending and inflation on Friday.
The personal consumption expenditure price index, a gauge of inflation that’s closely monitored by the Federal Reserve, ticked higher in July and is expected to have edged higher again last month. The Fed has been raising interest rates in a bid to bring inflation back down to 2%.
PCE Deflator, annual percent change, seasonally adjusted:
March 4.17
April 4.29
May 3.77
June: 2.96
July: 3.28
Aug. (est.): 3.40
Source: FactSet
Profits ahead
Carnival Corp. reports its third-quarter financial results on Friday.
It’s the first big cruise line to report results for last quarter, and should give investors a glimpse into the industry’s health. Wall Street expects it to report a profit of 76 cents per share, marking its first quarter in the green after several years of losses. Revenue is also expected to have surged from a year ago.