News

Columbian Newspaper

Consumer confidence dips to 100.9 as virus spreads in US
Author: MATT OTT, AP Business Writer

SILVER SPRING, Md. — U.S. consumer confidence dipped slightly in October as a new wave of coronavirus cases appeared across the country.

The Conference Board reported Tuesday that its consumer confidence index fell to a reading of 100.9, from 101.8 in September, but still remains well below pre-pandemic levels. This month’s moderate decline follows a sharp rise in September.

Consumer spending accounts for 70% of economic activity in the U.S., so a decline in confidence gets a lot of attention from economists, especially as the U.S. heads into the crucial holiday shopping season.

Consumer confidence tumbled to 85.7 in April as large swaths of the country went into lockdown to check infections. It had consistently been well above 100 in the months before that, with the index hitting 132.6 in February before the severity of COVID-19 infections became clear.

Now, average deaths per day across the country are up 10% over the past two weeks, from 721 to nearly 794 as of Sunday, according to data from Johns Hopkins University. Newly confirmed infections per day are rising in 47 states, and deaths are up in 34.

The part of the index that measures present conditions — which is based on consumers’ assessment of current business and labor market conditions — also increased from 98.9 to 104.6. However, consumers were less optimistic this month about the future, as the expectations index dipped to 98.4 in October from 102.9 last month.

Factors including the recent rise in coronavirus cases across the U.S., along with ongoing elevated job losses and uncertainty over next week’s presidential election may have played a part in consumers’ apprehension about the future.

“All of the negativity that accompanies presidential campaigns tends to weigh down on confidence in the month before an election,” said Stephen Stanley, an economist with Amherst Pierpont. “Though some may also blame the uptick in the virus.”

Portland Business News

China to sanction Boeing, Lockheed and Raytheon over Taiwan arms sale
Author: Carten Cordell
Following last week's proposed deal to sell a combined $1.8 billion in missile systems and other equipment to Taiwan, the three contractors were threatened with sanctions by China's foreign ministry.
Five Things to know for Tuesday, including a Portland reason to watch tonight's World Series matchup
Author: Christopher Bjorke
Today's version of Five Things, as occasionally happens, is being tag-teamed. The half of the team writing the intro promised the other half he'd turn him on to a great Tuesday song. And here it is: Hooray for a week from Election Day Tuesday. And hooray for a bunch of other things that are coming your way on a brisk and dry morning. It's a bleak time for dining. Covid cases are up everywhere, federal stimulus efforts are going nowhere and winter is closing down outdoor dining. A recent study…
Shareholders blast Under Armour, Kevin Plank in class-action lawsuit
Author: Holden Wilen
The lawsuit details alleged accounting practices that shareholders say were used to inflate results lauded by founder Kevin Plank.
Portland Burger Kings to test out reusable packaging
Author: Andy Giegerich
The Rose City is one of three locales where Burger King will test out zero-waste packaging.

NYT Politics

Trump Campaigns With No Agenda
Author: Lisa Lerer and Annie Karni
President Trump’s norm-shattering ways now extend to a refusal to tell voters how he will spend another four years in the White House.
A Fired-Up Obama’s 2020 Job: Biden Bodyguard and Anti-Trump Troll
Author: Glenn Thrush
Clearly relishing the chance to strike back at his successor, the former president has been willing to throw punches on behalf of Joe Biden’s unity-focused campaign.
Why the Best G.D.P. Report Ever Won’t Mean the Economy Has Healed
Author: Ben Casselman
Government data on Thursday will show a record-setting rebound in economic output. But the numbers are misleading.
A Chance to Expand Medicaid Rallies Democrats in North Carolina
Author: Abby Goodnough
The legislature in this battleground state could flip to Democratic control, a prospect that is bringing out lower-income voters who stayed home in 2016.

Clark County Talk

Pie and Gratitude Activities Are the Stars of First Friday ‘Week’ in Downtown Camas
Author: LocalTalk Contributor

Submitted by Downtown Camas Association Even during a pandemic year we have lots to be grateful for and the November First Friday Week in Downtown Camas will highlight this with gratitude activities and lots of pie. The annual November First Friday “Thankful for Pie!” theme has been adapted slightly this year to “Thankful for You! […]

The post Pie and Gratitude Activities Are the Stars of First Friday ‘Week’ in Downtown Camas appeared first on ClarkCoTalk.

Pages