H
Harry Hope
Guest
From The Associated Press, 9/14/07:
http://www.nytimes.com/aponline/us/AP-Ipsos-Consumer-Confidence.html?_r=2&oref=slogin&oref=slogin
Consumer Confidence Tumbles in Sept.
WASHINGTON (AP) --
Consumer confidence tumbled to its lowest point in nearly 1 1/2 years
as a deep housing slump and a credit crunch made people more worried
about the country's economic health as well as their own.
The RBC Cash Index showed consumer confidence clocking in at 71.1 in
September, a sharp drop from August's reading of 89.3.
It marked the worst showing since May 2006, when sticker shock from
high gasoline prices rattled peoples' sense of economic well-being.
The index is based on the results of the international polling firm
Ipsos.
''It's ugly,'' Richard Yamarone, economist at Argus Research, said of
the latest confidence reading.
''Consumers are rattled to the bone.''
The deterioration comes as Wall Street has been suffering through a
mood swing of its own, sending stock prices careening wildly.
The deeper consumer angst also comes after troubling news last week
that the economy lost jobs for the first time in four years.
Against this backdrop, analysts say the chance the economy might fall
into a recession is growing.
_______________________________________________________
Harry
http://www.nytimes.com/aponline/us/AP-Ipsos-Consumer-Confidence.html?_r=2&oref=slogin&oref=slogin
Consumer Confidence Tumbles in Sept.
WASHINGTON (AP) --
Consumer confidence tumbled to its lowest point in nearly 1 1/2 years
as a deep housing slump and a credit crunch made people more worried
about the country's economic health as well as their own.
The RBC Cash Index showed consumer confidence clocking in at 71.1 in
September, a sharp drop from August's reading of 89.3.
It marked the worst showing since May 2006, when sticker shock from
high gasoline prices rattled peoples' sense of economic well-being.
The index is based on the results of the international polling firm
Ipsos.
''It's ugly,'' Richard Yamarone, economist at Argus Research, said of
the latest confidence reading.
''Consumers are rattled to the bone.''
The deterioration comes as Wall Street has been suffering through a
mood swing of its own, sending stock prices careening wildly.
The deeper consumer angst also comes after troubling news last week
that the economy lost jobs for the first time in four years.
Against this backdrop, analysts say the chance the economy might fall
into a recession is growing.
_______________________________________________________
Harry