Consumer Confidence Tumbles To 9-month Low

[Purveyor]

Source: CNN

NEW YORK (Reuters) -- U.S. consumer confidence declined more than expected in April on rising gasoline prices while inflation expectations rose to their highest since August 2006, a survey showed Tuesday.

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Consumers' assessment of current conditions slipped in April from March. The business research group's present situation index declined to 131.3 in April from 138.5 in March: the first decline in six months. The expectations index declined to 85.8 in April from 87.9 in March.

Inflation expectations rose to the highest since August, the report showed. Consumers' expectations for the inflation rate 12 months from now rose to 5.2 percent in April from 4.9 percent in March.

Labor market conditions did not change significantly, the Conference Board said. Consumers surveyed who said jobs were "plentiful" declined to 27.8 percent in April from 30.3 percent in March. Those who said jobs were "hard to get" edged up to 20.4 percent in April from 18.9 percent in March.



Read more: http://money.cnn.com/2007/04/24/news/economy/consumer_confidence.reut/

[xchrom]

1. inflation expectations or inflation experiences?

i think people notice price increases rapidly -- more rapidly than is noted in any survey.

[durablend]

2. Sounds like it's time for another Bush pep rally...

"GET SHOPPING PEOPLE!!! DON'T SUCCUMB TO THE TERRORISTS!!!!"

:sarcasm:

[WePurrsevere]

3. Who are you going to believe. Bush or your own lying eyes? All the spin

in the world, all the cheer leading in the world won't stop people from seeing the higher prices at the gas pump and at the supermarket. Each month what income we have goes a bit less far and many people are struggling just to keep from drowning. :(

Add to that more and more jobs are being sent oversees and it's understandable that consumer confidence is not good and has declined.