Shop till you drop

The Commerce Department reported that business orders for machinery, computer equipment, and the like increased 3.4 percent in March, which was better than the 2.4% increase in February and much better than the 8.8 percent decrease in January. Wall Street celebrated because businesses were spending more, which meant more confidence in the economy. When compared [...]

The Conference Board Consumer Confidence Index, which had declined in April, continues its downward trend in May. The Index now stands at 57.2 (1985=100), down from 62.8 in April. The Present Situation Index decreased to 74.4 from 81.9. The Expectations Index declined to 45.7 from 50.0 in April.