Wednesday, October 28, 2009

Consumer (Lack of) Confidence

The Conference Board details:

Says Lynn Franco, Director of The Conference Board Consumer Research Center: "Consumers' assessment of present-day conditions has grown less favorable, with labor market conditions playing a major role in this grimmer assessment. In fact, the Present Situation Index is now at its lowest reading in 26 years (Index 17.5, Feb. 1983). The short-term outlook has also grown more negative, as a greater proportion of consumers anticipate business and labor market conditions will worsen in the months ahead. Consumers also remain quite pessimistic about their future earnings, a sentiment that will likely constrain spending during the holidays."

Source: Conference Board

1 comment:

  1. Great post as usual, great way to view the data. I was looking at the information yesterday and posted my thoughts on what that means as well...