Consumer Confidence Falls to 30-Month Low

[ECH1969]

For the third consecutive day, America's economic confidence has descended to new lows.

On Saturday, the Rasmussen Consumer Index fell another two points to 93.9. That's the lowest reading in thirty months and is down 22 points from a month ago.

The last time consumer confidence fell this low was March 19, 2003--the day before Operation Iraqi Freedom was launched to begin the War in Iraq. The Rasmussen Consumer Index measures the economic confidence of American consumers on a daily basis.

Just 27% of Americans now rate the U.S. economy as good or excellent. That's down from 30% a week ago and 35% a month ago.

http://www.rasmussenreports.com/

[Lindsay]

1. I got a bad feeling

things are gonna be heading still lower really quickly.

[mhr]

2. Let's All Loose Confidence In Hopes That Bush Is Impeached

For his utter incompetence.

[UpInArms]

3. for a bit of perspective - this index was established Oct 2001

The Rasmussen Index was established in October 2001 and is updated each morning at 9:00 a.m. Eastern. It has consistently shown Economic Confidence trends in advance of the traditional indicators provided by the Conference Board and University of Michigan.

edited to add:

and this part is very telling:

The baseline for the Rasmussen Consumer Index was established at 100.0 in October 2001. The current level of 93.9 means that overall levels of economic confidence are lower than in the aftermath of the 9-11 terrorist attacks.

[MaineDem]

4. I swear a report the other day said Consumer Confidence was UP!

I'll have to see if I can find it.

[UpInArms]

5. here it is: Confidence rebounds in August

http://www.marketwatch.com/news/story.asp?guid={25d082e7-fa15-4acd-bf7f-53cd6619cd07}&siteid=mktw&dist=SignInArchive&archive=true¶m=archive&garden=&minisite=

(free registration required as this is now archived at Marketwatch)

WASHINGTON (MarketWatch) - Led by the best assessment of current conditions in nearly four years, U.S. consumer confidence bounced back in August, the Conference Board said Tuesday.

The consumer confidence index rose to 105.6 in August, reversing most of July's decline to 103.6, the private economic research group said.

Economists were expecting the index to decline further to 100.8, according to a survey conducted by MarketWatch. See Economic Calendar.. Other consumer surveys, including the University of Michigan survey, have shown reduced consumer confidence because of rising energy prices.

In the Conference Board report, feelings about the current situation improved to their highest level since September 2001. The present situation index rose to 123.6 from 119.3.

The assessment of the labor market turned up, with more consumers saying jobs are plentiful than are saying jobs are hard to get, the first time since October 2001 that "plentiful" has "outnumbered hard to get."

The number of consumers saying conditions are "good" outnumbered those saying conditions are "bad" by nearly two-to-one, at 29.8% to 15.1%.

...more...

[MaineDem]

6. Consumer Confidence Rises Unexpectedly

http://www.nytimes.com/2005/08/31/business/31factory.html?ex=1283140800&en=6edf2e3f9e0bafce&ei=5088&partner=rssnyt&emc=rss

And here's a DU thread.
http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=1739262

I'm pretty sure there are more.

I wouldn't think anyone would put out FALSE information, right? :eyes:

[ECH1969]

7. Dude that was pre-Katerna

This poll was done yesterday.

[MaineDem]

8. I should have read more carefully

I assumed it was a monthly number. The Consumer Confidence figure usually is.

In any case, the number that came out Wednesday was questioned at the time by many people.

These numbers will likely tank for sure.