Consumer Confidence Lowest In 14 Years

[Purveyor]

Source: CNNMoney

NEW YORK (CNNMoney.com) -- A key measure of consumer confidence dropped significantly in February, to the lowest level in more than 14 years, amid mounting concerns about jobs and slowing business activity.

The New York-based Conference Board said Tuesday that its Consumer Confidence Index plummeted to 75, the lowest level since November 1993, from a revised 87.3 in January. Analysts had expected a decline to 82, according to Briefing.com.

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Consumers claiming business conditions are "bad" rose to 21.8% from 20%, while those claiming business conditions are "good" decreased to 18.5% from 20.7%.

"With so few consumers expecting conditions to turnaround in the months ahead, the outlook for the economy continues to worsen and the risk of a recession continues to increase," said Lynn Franco, director of The Conference Board Consumer Research Center, in a statement.

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"The weakening in consumers' assessment of current conditions, fueled by a combination of less favorable business conditions and a sharp rise in the number of consumers saying jobs are hard to get, suggests that the pace of growth in early 2008 has slowed even further," said Franco.



Read more: http://money.cnn.com/2008/02/26/news/economy/consumer_confidence/

[bdamomma]

1. I wonder why??? how stupid are these people??

really stupid, prices keep going up, and how do they expect people to live without a raise in the minimum wage. The bridge between the rich and the poor gets wider each day.

[Robbien]

2. CNBC pundits were just talking about how well companies are

about keeping labor wages down in order to keep profits up so there is no problem in the stock market. Pundits were all patting each other on the back saying inflation will not be bad because wages will be kept in check.

As if the people actually receiving those wages don't fit into the economic picture at all.

Total disconnect.

[Acadia Blue]

3. We need to stop feeding these pigs. Buy only what one must! They

think they can steal our jobs, and we will still just make them richer? Americans need to boycott the ones that moved to China and Mexico if it is possible to do so and sometimes not possible.
I am middle class but have started making lots of my own clothes and buying at second hand stores. Why should I support Liz Clairborn if she is manufacturing in Tawin and China and stealing jobs from decent Americans?

[CountAllVotes]

4. Liz Claiborne's quality has gone to hell

once a great company sold out to China. I recently ordered from them (after calling and ASKING if the clothes were made in China and told "no" (they WERE!!)).

I returned everything to them at THEIR expense! :mad:

BUY AMERICAN & SAVE AMERICAN JOBS!

:dem:

[demigoddess]

7. have you looked where the fabric comes from these days? I have always

made clothes for my kids etc but the fabric quality has gone down a lot and it comes from China and Pakistan for the most part. Fabric store here sold cotton, wool, linen, etc til they ran the other fabric stores out of business and now they sell fabric from China and Made in China crappy stuff .

[ReformedChris]

5. Of Course In GE/Welchian Upper Society at CNBC things are looking good..

The common person is out there clawing for survival while the corporate fat cats continue to feast away at our carcasses. Remember, GE is the company that started this whole outsourcing thing in the early 80's and its come to bite us all in the ass. They of course are reaping the rewards of their cruelty. I wouldn't put any faith into what good news they spew on that network.

[ReformedChris]

6. Self Delete

[Doctor_J]

10. Disconnect? You mean propaganda

:eyes:

[Yavin4]

11. If the CNBC Pundits Are Right, How Will People Pay Their Resetting Mortgages?

With air?

[Hydra]

8. And the downward spiral continues

The corps don't get it- we can't buy their s*** if they don't pay us. Until then, I'll be doing this:

:popcorn:

[Doctor_J]

9. 14 years - just about when the KKKons took over the country

2+2=?