Greater New Haven is still trying to transition from its post-recession stage into full-on recovery but several obstacles persist, including rising consumer prices that are eating into household budgets, according to The New Haven Register’s monthly economic scorecard.
The Consumer Price Index, which gauges inflation, received one of four “thumbs down” on the scorecard for April, the paper said Tuesday.
Just two economic indicators got “thumbs” up, while one garnered a neutral reading. Data for one indicator, gauging home prices in the New Haven-Milford area, were unavailable at press time.
“Thumbs up” are given to indicators that show significant improvement, while “thumbs down” go to those that experience deterioration or only slight improvement.
Similar to recent months, the April scorecard was a mixed bag.
“Consumers are increasingly skeptical about the staying power of this recovery,” said Donald Klepper-Smith, chief economist at DataCore Partner in New Haven, who compiles the scorecard. “Economic recovery is always imperfect.”
As the region keeps trying to regain its economic footing, he said three indicators to watch particularly closely are employment figures, consumer confidence and inflation.
