News Headlines Consumers Should be Aware Of…

Dec. 23, 2010 - PRLog -- Andover, Massachusetts December 23rd, 2010 – As 2010 comes to a close and we look forward to a better 2011 a couple of bits of news came out today that could affect your financial health in the New Year. Unemployment claims, gas prices, and factory orders all were reported on today and should not be ignored.

Gas prices continue to rise as demand picks up, the dollar remains weak, and prices for crude oil continue to rise. Average gasoline prices exceeded $3 this week for the first time since late 2008. This important barrier has been breached after a 4% rise over the past month. Prices are 16% higher than they were a year ago and with the onset of winter many experts are predicting these prices to continue to rise. The highest price outside of Hawaii was found in California at $3.27 a gallon and the lowest price was found in Colorado at $2.75.

Unemployment claims continued a long term downward trend as they dropped another 3,000 last week to 420,000. The rate has been stuck between 400,000 and 500,000 for over a year now but for the past three months has been trending down. Economists know that this rate needs to get below 400,000 to have an effect on the national unemployment rate. Let’s hope we can reach that as early as possible in 2011.

The last report that was released this morning reviews the nation’s factory output in November. Orders for long lasting manufactured goods rose not counting airplanes rose 2.4% last month. This is the largest increase since March and ignores airplanes as the transportation sector which includes autos as well is extremely volatile on a month to month basis. This increase in orders gives hope to many who expect hiring to go up as well as factories try to meet the demand of the rebounding middle class.

Preferred Financial Services is a debt reduction firm certified by the CFC (Center for Financial Certifications) and accredited by U.S.O.B.A. (United States Organizations for Bankruptcy Alternatives). Headquartered in Andover, Massachusetts, Preferred Financial Services has been a leader in the debt reduction industry since 2003. Preferred Financial Services has acquired some of the best experience in the industry over the past 7 years. In 2009 alone Preferred Financial Services reduced over $16.5 million worth of consumer debt for just $6.4 million, for a savings of about 60%- and over 2,900 accounts were settled on behalf of their clients.

For more information, please visit http://www.pfsdebtrelief.com or follow us on our blog at http://www.pfsdebtrelief.com/blog/ .

Contact:
Stephan Tavernini
Marketing Coordinator
Certified IAPDA Debt Arbitrator
Preferred Financial Services
stavernini@pfs1.net

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Preferred Financial Services is the leading voice in the debt settlement industry. PFS has worked with hundreds of creditors to help negotiate realistic goals for those drowning credit card debt.