U.S. Consumer confidence reaches 10-week high
Washington, D.C. — A report released Thursday by Bloomberg said that consumer confidence reached its highest level in 10 weeks, thanks to falling gas prices and despite a 9.1% unemployment rate.
The Bloomberg Consumer Comfort Index increased to minus 43.9 for the period ended June 26, after dropping to minus 44.9 the prior week. According to the report, falling fuel costs are reducing consumer stress.
“Falling retail gasoline prices, which should free up approximately $42 billion in discretionary income, likely bolstered the outlook of consumers,” said Joseph Brusuelas, senior economist at Bloomberg LP in New York.
Cheaper fuel “may provide needed support for consumer confidence at a time when sluggish demand in the labor market is clearly depressing overall sentiment,” he added.
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Donahue Schriber announces promotions
Costa Mesa, Calif. — Donahue Schriber announced Wednesday the promotion of three executives to senior VP status.
In their new roles, Henry Avila, senior VP asset management, Heather Beal, senior VP leasing, and Scott Lawrence, senior VP construction, will work closely with Donahue Schriber’s executive committee on future decisions affecting the company.
Avila, Beal and Lawrence will sit on the company’s investment committee, responsible for acquisition, development, disposition and major renovation review and approval, chaired by Donahue Schriber’s chief investment officer Dave Mossman.
Avila has most recently served as the company’s VP asset management, overseeing the company’s REIT portfolio which encompasses over 11.8 million sq. ft.
Beal was most currently VP leasing for Donahue Schriber’s Northern and Central California development projects and acquisition pipeline.
Lawrence was most recently VP construction.
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