USA-Consumer Survey

US consumer sentiment remains weak in October: survey

  • English

Shotlist


Los Angeles, USA - Recent (CCTV - No access Chinese mainland)
1. Various of people inside shopping center
2. Notice for customers
3. Customers
4. "Hand sanitizing" sign
5. Various of people at outdoor shopping center

USA - Oct 13, 2020 (CCTV - No access Chinese mainland)
6. SOUNDBITE (English) Kevin Lang, professor, Department of Economics, Boston University:
"The U.S. economy is very much a consumer driven economy. It's very different from some other countries, and if people aren't comfortable going out to restaurants, going to stores, we're going to continue to see that that part of aggregate demand is smaller than it has been traditionally, and that will slow the recovery. As people gain confidence, we will move more in that direction."

Los Angeles, USA - Recent (CCTV - No access Chinese mainland)
7. People at outdoor shopping center
8. Various of supermarket interior
9. Sign reading "face coverings required inside"
10. People at outdoor shopping center
11. Various of people purchasing at supermarket
12. Pumpkins piled up for sale outside supermarket

Storyline


The U.S. economy is still a long way from recovery amid the pandemic, according to a survey released on Friday by the University of Michigan (UM).

The Consumer Sentiment Index was 81.2 in October, up marginally from 80.4 in September, but well below the levels seen before the COVID-19 outbreak, the survey showed.

The Current Conditions Index decreased to 84.9 in October from 87.8 in September, which shows that consumers are not optimistic about the current state of the economy.

The Consumer Sentiment Index is a consumer confidence index published monthly by the University of Michigan.

The Consumer Sentiment Index remained above 90 from last September through this March, indicating a healthy economy before the coronavirus outbreak. But ever since, the index has kept below 80 for five consecutive months and rose above 80 only for the last two months.

In response, many economists said that the recent rise in COVID-19 cases in the United States and the ongoing stalemate in negotiations between the White House and Congress over a new aid package have dampened people's willingness to spend.

"The U.S. economy is very much a consumer driven economy. It's very different from some other countries, and if people aren't comfortable going out to restaurants, going to stores, we're going to continue to see that that part of aggregate demand is smaller than it has been traditionally, and that will slow the recovery. As people gain confidence, we will move more in that direction," said Kevin Lang, professor in the Department of Economics at Boston University.

DOWNLOAD
  • ID : 8161990
  • Dateline : Oct 13, 2020/Recent
  • Location : United States
  • Category : economy, business and finance
  • Duration : 2'06
  • Audio Language : English/Nats
  • Source : China Central Television (CCTV)
  • Restrictions : No access Chinese mainland
  • Published : 2020-10-18 00:57
  • Last Modified : 2020-10-18 06:15:39
  • Version : 3

USA-Consumer Survey

US consumer sentiment remains weak in October: survey

Dateline : Oct 13, 2020/Recent

Location : United States

Duration : 2'06

  • English


Los Angeles, USA - Recent (CCTV - No access Chinese mainland)
1. Various of people inside shopping center
2. Notice for customers
3. Customers
4. "Hand sanitizing" sign
5. Various of people at outdoor shopping center

USA - Oct 13, 2020 (CCTV - No access Chinese mainland)
6. SOUNDBITE (English) Kevin Lang, professor, Department of Economics, Boston University:
"The U.S. economy is very much a consumer driven economy. It's very different from some other countries, and if people aren't comfortable going out to restaurants, going to stores, we're going to continue to see that that part of aggregate demand is smaller than it has been traditionally, and that will slow the recovery. As people gain confidence, we will move more in that direction."

Los Angeles, USA - Recent (CCTV - No access Chinese mainland)
7. People at outdoor shopping center
8. Various of supermarket interior
9. Sign reading "face coverings required inside"
10. People at outdoor shopping center
11. Various of people purchasing at supermarket
12. Pumpkins piled up for sale outside supermarket


The U.S. economy is still a long way from recovery amid the pandemic, according to a survey released on Friday by the University of Michigan (UM).

The Consumer Sentiment Index was 81.2 in October, up marginally from 80.4 in September, but well below the levels seen before the COVID-19 outbreak, the survey showed.

The Current Conditions Index decreased to 84.9 in October from 87.8 in September, which shows that consumers are not optimistic about the current state of the economy.

The Consumer Sentiment Index is a consumer confidence index published monthly by the University of Michigan.

The Consumer Sentiment Index remained above 90 from last September through this March, indicating a healthy economy before the coronavirus outbreak. But ever since, the index has kept below 80 for five consecutive months and rose above 80 only for the last two months.

In response, many economists said that the recent rise in COVID-19 cases in the United States and the ongoing stalemate in negotiations between the White House and Congress over a new aid package have dampened people's willingness to spend.

"The U.S. economy is very much a consumer driven economy. It's very different from some other countries, and if people aren't comfortable going out to restaurants, going to stores, we're going to continue to see that that part of aggregate demand is smaller than it has been traditionally, and that will slow the recovery. As people gain confidence, we will move more in that direction," said Kevin Lang, professor in the Department of Economics at Boston University.

ID : 8161990

Published : 2020-10-18 00:57

Last Modified : 2020-10-18 06:15:39

Source : China Central Television (CCTV)

Restrictions : No access Chinese mainland

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