Hopes for a quick economic rebound in the second half of the year seemed more remote on Friday after a glimpse at consumer sentiment showed it at its lowest level in more than two years.
Industrial output also hit the brakes in June, rising a modest 0.2 percent, according to the Federal Reserve. although much of the stall was attributed to auto sector disruptions from the earthquake and tsunami in Japan.
The reports were the latest in a series, including weak retail sales and employment, to suggest that the anticipated step-up in growth in the second half of the year might not be as strong as initially thought.
Will more people need to file Chapter 7 and Chapter 13 bankruptcy in Ventura? This makes me believe it will be so.
On the other hand, we have articles like this one.
The average U.S. credit score — a predictor of the likelihood lenders will be paid back — rose to 696 in May, the highest in at least four years, according to credit reporting bureau Equifax. Delinquencies on consumer loans have dropped 30 percent in two years, according to Federal Reserve data.Again, I believe that the combination of the continuing decline in housing prices and the loss of jobs will hurt many of us. I sense that the positive articles are meant to encourage consumers to spend again. With enough spending, we can perhaps fuel another bubble or at least temporary recovery.