Tuesday, December 29, 2009

Quick Notes for the Day - December 29

Consumer Confidence Rises in December - The Conference Board reported that their consumer confidence index rose to 52.9 in December versus 50.6 in November (originally reported at 49.5). This marks the second straight month the index climbed. Consumers were pointing to an improving economy for 2010 as the reason for the upward move.

Weekly Sales By Retailers Rises - The International Council of Shopping Centers and Goldman Sachs released survey results that showed that last-minute shoppers helped weekly sales rise by 2.3% year over year and 0.4% week over week. "The pre-Christmas sales wrap-up was strong as consumers hurried to finish off their gift buying, which was hampered by the super-sized storm during the prior week in the Southeast and Northeast and by a slower holiday-gift completion rate than last year," said Michael Niemira, ICSC's chief economist. "As such, consumers were out in force to finish shopping and the preliminary indications appear that sales are on track." For December, ICSC projects sales to rise about 2%.

Home Prices Flat for October - According to the Case-Shiller home price index, home prices in 20 major cities were flat in October. In October prices rose in just seven of 20 cities. In the past year, prices are down 7.3% in the 20 cities.

Note - Rollins Financial and Rollins & Associates will be closed on Friday, January 1 in observance of New Year's Day. We will reopen on Monday, January 4 at 8:30 am.

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