Hardware Retailing The Industry's Source for Insights and Information
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The nation’s third-quarter 2017 consumer confidence levels rose nearly 20 percent over third-quarter 2016, indicating that consumers feel confident about the overall economy. Some regions ravaged by hurricanes showed measurable consumer confidence dips, however.
“Confidence in Texas and Florida decreased considerably, as these two states were the most severely impacted by Hurricanes Harvey and Irma,” director of economic indicators at The Conference Board Lynn Franco says.
The purchasing managers’ index (PMI), grew 14.5 percent over third-quarter 2016 levels. Any PMI figure above 50 represents growth in the manufacturing industry.
The Institute for Supply Management, the group that compiles this figure, says it was bolstered by an uptick in hiring and new orders across the country.
