Reuters - Video

Edition: US | UK | IN | CN | JP

video Finance Videos

Reuters Today: Spanish yields seen rising at auction
Reuters Today: Spanish yields seen rising at auction - 06:21
Surprise services boost points to UK recovery
Surprise services boost points to UK recovery - 02:54
Breakingviews: Do as I say, not as I do – German wages
Breakingviews: Do as I say, not as I do – German wages - 05:04
Market Pulse: Spain under fire as investors shun bond sale
Market Pulse: Spain under fire as investors shun bond sale - 03:28
Myanmar's Kyat begins managed float
Myanmar's Kyat begins managed float - 01:59
ASEAN: territorial code of conduct draft by year-end
ASEAN: territorial code of conduct draft by year-end - 01:48
U.S. Morning Call: Stock futures down, JPMorgan to be fined
U.S. Morning Call: Stock futures down, JPMorgan to be fined - 02:08
EMEA Day Ahead:: Thursday
EMEA Day Ahead:: Thursday - 03:13
3XSQ: Customer funds in question; royal return
3XSQ: Customer funds in question; royal return - 05:44
Still cashing in? Hirst retrospective
Still cashing in? Hirst retrospective - 02:32
World's biggest car delivery center
World's biggest car delivery center - 02:41
FACTBOX: Titanic the movie sails again
FACTBOX: Titanic the movie sails again - 02:20

American shopper happiest in four years

Friday, May 25, 2012 - 01:40

May 25 - U.S. consumer sentiment jumped to the highest since October 2007 as consumers bet the job market will improve and wages will rise enough to offset higher prices. Conway G. Gittens reports.

▲ Hide Transcript

▶ View Transcript

PLEASE NOTE: THIS EDIT CONTAINS CONVERTED 4:3 MATERIAL Consumer sentiment rose to a more than four-year high in May, according to the Thomson Reuters/University of Michigan survey. Shoppers remain upbeat about the labor market despite two months of subpar job growth, while high-end consumers expect to see bigger wage increases. Robert Johnson, an economist for Morningstar, says consumers are right to be feeling better. SOUNDBITE: ROBERT JOHNSON, DIRECTOR OF ECONOMIC ANALYSIS, MORNINGSTAR (ENGLISH) SAYING: "One of the problems of this recovery has been a relatively slow growth in what they call personal income, the wage portion of the number has been relatively good, which is supportive and the other thing that is happening now is inflation has come back in a little bit, and so those wage increases will go further." According to data from the Labor Department, Americans earned close to 2 percent more over the 12-month period ended in April, while consumer prices were up just over 2 percent during the same time. To put in plainly: consumer moods brighten when a little bit more in their paycheck is not threatened by $4, $5 gasoline. Those happy feelings could change if job growth, no matter how tepid, turns to job losses. SOUNDBITE: ROBERT JOHNSON, DIRECTOR OF ECONOMIC ANALYSIS, MORNINGSTAR (ENGLISH) SAYING: "I really think it would take a full negative number to do it. In other words instead of gaining a 100,000 or 200,000 jobs we typically gain in a month, if we went to minus a 100,000 then kind of all bets are off, that would kind of spook the consumer." But for now consumers think the labor market will improve and according to the survey more are willing to spend, even for big ticket items. Conway Gittens, Reuters

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Close

American shopper happiest in four years

Friday, May 25, 2012 - 01:40

Featured Videos

London's female wrestling scene boosted by Netflix show 'Glow'

London's female wrestling scene boosted by Netflix show 'Glow'

There has been more interest in female wrestling and a clearer sense of what it involves since hit Netlfix show 'Glow' came out
Chimpanzees can understand rock, paper, scissors

Chimpanzees can understand rock, paper, scissors

Chimpanzees can understand rock, paper, scissors, Japanese primatologists show
Bladerunners - UK lawnmowers in 12-hour endurance race

Bladerunners - UK lawnmowers in 12-hour endurance race

Drivers donned their suits and climbed into their cockpits at the weekend for a 12-hour endurance race with a difference: they weren't driving rallying cars, but lawnmowers
The highs and lows of Macron's first 100 days

The highs and lows of Macron's first 100 days

French President Emmanuel Macron heads into the summer break faced with falling popularity ratings after tough debates in parliament over labour reform and a public ethics law, a standoff with the military and cuts to housing assistance
The vending machine helping fight against HIV

The vending machine helping fight against HIV

An innovative vending machine for HIV tests being piloted in Britain aims to help in the fight to end the epidemic