|
U.S. WashPost/ABC Consumer Comfort Slides to -46, Nears 16-Year Low |
|
|
|
US Economy |
Written by CEP News |
May 06 08 21:03 GMT |
|
|
(CEP News) - A weekly index of U.S. consumer comfort took a sharp dive last week, continuing its downward trend to -46 for the week ending May 4, according to the Washington Post and ABC News. The survey has now been below -40 for three consecutive weeks.
In the previous week, the survey continued its downward trend to -41, its lowest level since July 1993. The report cited the housing and credit crises and rising retail gas prices as factors contributing to the fall in consumer confidence. The survey is well below its long-term average of -10 and nearing its all-time low of -50 reached in early 1992. The state of the economy reading fell two points to -72, while the buying climate reading dropped four more points to -60. The one indicator that had remained in positive territory until this week - personal finance - fell eight points to -6. By Stephen Huebl,
This email address is being protected from spam bots, you need Javascript enabled to view it
, edited by Cristina Markham,
This email address is being protected from spam bots, you need Javascript enabled to view it
|
