US consumer confidence at 10-month low-ABC/Money

[UpInArms]

http://www.reuters.com/financeNewsArticle.jhtml?type=economicNews&storyID=4582293§ion=investing

NEW YORK, March 16 (Reuters) - U.S. consumer confidence fell sharply to its lowest level in 10 months, a report said on Tuesday, in a sign Americans are growing impatient with the economy's seeming inability to create new jobs.

ABC News/Money Magazine said its weekly Consumer Comfort index slid to -22 in the week to March 14 from -18 in the prior week, an unusually steep decline for this indicator.

The gloom was pervasive, with the poll's individual readings on the current state of the economy, personal finances and buying climate slipping across-the-board.

Worse yet, consumer expectations tracked in a separate ABC/Money survey also deteriorated. The number of respondents saying they were pessimistic about the economy's future has swelled 15 percent over the past two months. Only 23 percent of Americans now believe the economy is getting better.

...more...

[Arugula Latte]

1. Drip, Drip, Drip

nt

[revcarol]

2. My question is:

how much more blood can I squeeze out of that turnip?

Expenses already cut to the bone. The only things going on the cards are medical expenses(no insurance,can't pay cash...)

[TXDemGal]

3. But, but, but

Prosperity is right around the corner! There's a lot of excitement in this economy! Dubya's good buddies are creating 2 jobs here, 3 jobs there. Pretty soon you've got 5 new jobs. What's the matter with these damned consumer people, anyway?

[rumguy]

4. Bush must feel that in the pit of his stomach

ouch!

[leftchick]

5. I really don't think so....

I firmly believe he has no clue as to the reality around him. He truly is in his own little world of "terra, torture, God, freedom"....

[snippy]

11. I think you are right. And you put it well.

[rfkrocks]

6. How can the election be this close with this economic news

If consumers are not confident the whole "buy your way out of systemic economic problem" approach of greenspin and Bushco falls apart-how bad is this going to get? I am lucky to employed but there are no raises in the future-with gas prices going up and iraq not even included in the budget its no wonder people feel bad.

[dbt]

9. To answer your headline question,

The Mighty Wurlitzer is a HUGE reason for the election allegedly being close. Even though there are signs that ABCCBSCNNFocksNBC is stirring from its happy coma, it continues ignoring the truth about bu$h: his handlers have fucked this country.

:argh:
dbt
(I live in a Rogue Nation)


PS: :kick:

[JoeMemphis]

7. The Bush economy rumbles onward!

If consumers aren't confident in their employment prospects, they don't spend. Bad news for President Chimp and his CEO cabinet.

[teryang]

8. Worst economic experience

This is the worst economic experience I have had in my lifetime. The pervasive nature of the gloom is related to the pervasive nature of the problem. Three people in my family are out of work. Two out of three on a chronic basis. My neighbor was laid off from his job after 14 years.

Incidently, tourism never recovered to pre-911 levels in Florida. Of course, it was already declining before the attack. There is a trend of decreasing economic opportunity in this part of the country as artificially low interest rates have raised prices to unrealistic levels. Increasing utility, insurance, and state and local taxes are out of control and are suffocating consumers.

[catmandu57]

10. Yeah but.......

Manpower (spit) said in it's survey 28% of employers surveyed said they plan new hires this spring. My eighth grade math tells me that 72% don't plan on hiring anyone.

[snippy]

12. The economy likely will continue to drag Bush down.

However, when the March employment report is released it might show a much larger increase in payroll jobs than any of the last three months. This is because of the end of the grocery workers strike in California, which will add around 40,000 jobs net, and because of the February decline of 24,000 construction jobs which was due to bad weather in the North East. Many of those 24,000 jobs lost in February will show up as new jobs in March. The republicans will be prepared to spin any increase and much of the media may buy it.

[radfringe]

13. some more info

http://www.pollingreport.com /

http://www.pollingreport.com/consumer.htm
ABC News/Money magazine CONSUMER COMFORT INDEX
now: 3/14/04 -22
lowest point: 3/23/03 -28

Conference Board CONSUMER CONFIDENCE INDEX conducted by NFO Research
Feb. 2004
Consumer Confidence Index: 87.3
Present Situation Index: 73.1
Expectations Index: 96.8

lowest point: Feb. 2003
Consumer Confidence Index: 64.8
Present Situation Index: 63.53
Expectations Index: 65.7