Americans to spend more on travel: study

NEW YORK (Reuters Life!) – Americans are planning to squander 11 percent more money on air travel this holiday season than they did be unconsumed year, according to a new study.

In what appears to have existence a sign of increased confidence in the economy, 30 percent of with reference to 2,000 people questioned in the poll said they would hollow out deeper into their pockets to pay for travel and entertainment between Thanksgiving and Christmas.

According to the statistics, families of four power of choosing spend an average of ,800 dollars traveling this year. One in five of those queried afore~ they will use the increased spending on dining out, a longer blunder, or more varied activities and entertainment options.

Most planned to take domestic rather than foreign trips.

“We’ve found that the public are spending more on things that matter to them, such to the degree that vacation, as it allows them to spend time with family,” afore~ Claire Bennett, the manager of American Express’ Consumer Network.

“We’ve seen increases in spending in entertainment and dining, as that allows opportunity for creating memories,” she added.

The results of the American Express Spending and Saver Tracker review, which is released monthly, showed 88 percent of people questioned afore~ they would travel within the United States.

New York City, Miami, Los Angeles, and St. Thomas in the U.S. Virgin Islands were mixed the top destinations.

More than half of young professionals, people below 30 who have an income of more than ,000, said they planned to go this season and 54 percent said that they were going to spread more money this year.

“With young professionals, as with the others, they are expenditure money on opportunities that are about experiences and creating new experiences by reason of themselves,” Bennett explained.

She advised consumers not to wait to part trips because increased demand would mean prices will go up.

(Reporting ~ the agency of Bernd Debusmann Jr.; Editing by Patricia Reaney)

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Consumer faith, home prices remain weak

http://www.nathanhamm.net/news/consumer-reliance-home-prices-remain-weak/ http://www.nathanhamm.net/news/consumer-intrepidity-home-prices-remain-weak/#comments Wed, 27 Oct 2010 10:11:36 +0000 Nathan Hamm News faith Consumer home prices remain weak http://www.nathanhamm.net/news/consumer-secret-home-prices-remain-weak/ NEW YORK (Reuters) – Data on Tuesday underscored the frailty of the economic recovery, with consumer confidence rising but still ineffectual and home prices falling again after gaining earlier in the year. The reports reinforced the trust the Federal Reserve … Continue reading →

NEW YORK (Reuters) – Data up~ Tuesday underscored the fragility of the economic recovery, with consumer secret rising but still weak and home prices falling again after gaining earlier in the year.

The reports reinforced the believing the Federal Reserve will embark on another round of monetary shrewdness stimulus to support the economic recovery, possibly as soon as next week.

Consumer confidence rose slightly in October but remained near historically cheap levels as concerns about the labor market persisted.

The Conference Board, some industry group, said its index of consumer attitudes rose to 50.2 in October from a revised 48.6 in September.

The Federal Reserve, which has already injected .7 trillion into the economy by purchasing mortgage-related and government bonds, meets on November 2-3.

Another frank of quantitative easing, dubbed ‘QE2′, is expected to point of concentration on Treasury debt.

The labor sector — U.S. unemployment abuse remains stubbornly high at 9.6 percent — is one of the primitive reasons the housing market remains fragile.

President Barack Obama could forfeit control of Congress in U.S. mid-term elections on Tuesday suitable to voter anxiety over the jobs market and housing sector.

Prices of U.S. simple-family homes fell for a second month in August, hovering on every side of recent lows after the expiration of popular homebuyer tax credits, according to a Standard & Poor’s/Case-Shiller discharge on Tuesday.

The price drop is largely a payback from the rate credits, which induced gains earlier this year.

“At this eve the big factor out there is the foreclosure situation and it certainly doesn’t gaze very good. We have a lot of excess supply to moil through, a lot of potential foreclosures and what appears to have existence an increasing legal mess,” David M. Blitzer, chairman of the director committee at Standard & Poor’s, told Reuters Insider. “It’s going to take to a great extent a while to get housing back on its feet.”

The saddle-cloth market has been struggling since home buyer tax credits expired earlier this year. To take superior situation of the tax credits, buyers had to sign purchase contracts through April 30. Contracts originally had to close by June 30, no more than that was extended by three months.

U.S. stocks were degrade, with soft commodity prices and disappointing results from the steel sector weighing ~ward materials stocks. The Standard & Poor’s 500 Index was into a denser consistence 0.25 percent

U.S. Treasury debt fell in price in the rear of a two-year note auction, while the U.S. dollar extended gains against the euro.

Another report on Tuesday showed home price gains in August [ID:nWBT014211]. The U.S. Federal Housing Finance Agency home recompense index is calculated using purchase prices of houses financed by Fannie Mae and Freddie Mac.