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Consumer Confidence Lowest Since Katrina

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Purveyor (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Tue Nov-27-07 11:03 AM
Original message
Consumer Confidence Lowest Since Katrina
Source: Reuters

NEW YORK (Reuters) - Consumer confidence fell unexpectedly sharply in November to its lowest since after Hurricane Katrina in 2005 on worries about rising gas prices and financial market volatility.

The Conference Board said on Tuesday its index of consumer sentiment fell, for a fourth straight month, to 87.3 from a revised 95.2 in October. The median forecast of economists polled by Reuters was for a reading of 91.6.

It was the lowest level since October 2005, when it was at 85.2, the Conference Board said.

"The reading is approaching the high end of where we would be during a recession," said Michael Schenk, senior economist of the Credit Union National Association, Madison, Wisconsin.


Read more: http://investing.reuters.co.uk/news/articleinvesting.as...
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   Replies to this thread
   but.. but... the consumers are buying and spending money like crazy this holiday!  notanotherday   Nov-27-07 11:09 AM   #1 
   Credit Cards  celestia671   Nov-28-07 02:25 AM   #3 
   nothing to see here -- feed them the best Black Friday stories ever  Supersedeas   Nov-27-07 12:37 PM   #2 
 
notanotherday (53 posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Tue Nov-27-07 11:09 AM
Response to Original message
1. but.. but... the consumers are buying and spending money like crazy this holiday!

I do not understand what is going on.

Some are saying consumers are spending this year like crazy,

and Wall Street is running scared..

what is going on?
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celestia671 (847 posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Wed Nov-28-07 02:25 AM
Response to Reply #1
3. Credit Cards
There was a story on the news tonight about more people using cc's to pay for Christmas stuff. January is gonna be a bumpy month, economy wise!
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Supersedeas (1000+ posts)  Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Tue Nov-27-07 12:37 PM
Response to Original message
2. nothing to see here -- feed them the best Black Friday stories ever
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DU AdBot (1000+ posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Sat Nov 21st 2009, 08:20 PM
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