U.S. consumer confidence gauge drops sharply-report

[UpInArms]

http://today.reuters.com/investing/financeArticle.aspx?type=economicNews&storyID=2005-09-13T205949Z_01_N13596118_RTRIDST_0_ECONOMY-CONSUMERS-ABC.XML

NEW YORK, Sept 13 (Reuters) - U.S. consumer confidence in the economy fell to its lowest level since June 2004, driven down by the concerns over high gasoline prices and Hurricane Katrina's destruction along the Gulf Coast, ABC News and the Washington Post said on Tuesday.

ABC News and the Washington Post said their Consumer Comfort Index fell to -20 in the week ending Sept. 11 from a revised -15 the prior week.

Earlier on Tuesday, Investor's Business Daily and TechoMetrica Market Intelligence said their measure of monthly economic optimism fell to an all-time low of 41.2 in September in the wake of the hurricane's destruction.

The index is a four-week moving average and two of the four weeks have occurred after Hurricane Katrina hit.

All three components of the ABC/Washington Post index fell in the latest week. The percentage of Americans with a positive view of the economy fell to 32 percent from 40 percent.

...more...

[NYC]

1. 32% of Americans have a positive view of the economy.

...The percentage of Americans with a positive view of the economy fell to 32 percent from 40 percent...

That's really pretty dismal, isn't it?

[iconoclastic cat]

2. It's beginning to look like (a crappy) Christmas, everywhere you go...

[durablend]

8. Nonsense--things looking up

For the rich who are expected to double if not triple their holday gift expenditures.

[Cobalt Violet]

3. I'm sure most of them are in the 38% who love Bush.

[mom cat]

6. Bet that the 32% is the real Bush approval.

[Digit]

4. These are his base, the ones with Kool-Aide running thru their veins.

...and this is only slightly lower than the percentage which voted for him in the last election.

I would just like to say, "I TOLD YOU SO".

[daleo]

5. People's confidence falls after a major city gets destroyed.

Who could have guessed that?

[ladylibertee]

7. Uh yeah...Ya Think?