US Consumer Confidence Index Falls to 26Year Low

April 11, 2008

As reported in Bloomberg

April 11 (Bloomberg) — Confidence among U.S. consumers sank to a 26-year low in April as the labor market continued to deteriorate and gasoline prices rose.

The Reuters/University of Michigan preliminary index of consumer sentiment decreased to 63.2 from 69.5 in March. The reading was below the lowest forecast in a Bloomberg News survey and the weakest since March 1982.

Americans are confronting the loss of 232,000 jobs so far this year, along with higher food and energy costs and overall weakening in the economy. Consumer spending in the first half will advance at the slowest rate in 17 years, according to economists surveyed by Bloomberg News.

“The consumer’s feeling increasingly hemmed in,” said Brian Bethune, director of financial economics at Global Insight Inc. in Lexington, Massachusetts. “They’ve got higher energy bills, higher gasoline bills, higher food bills and obviously the employment markets are nowhere near as strong as they were. The economy is in a recession.”

Our Perspective:

The R word keeps popping up. Seems like more people are using it with greater frequency these days.

Allen Greenspan also used it the other day.

Seems like this has become a cyclical thing. That is what happens when we keep pushing the rock forward and not addressing the issues that confront us. We grow complacent.

So many issues are contributing to us being in this predicament. The sad part is that if you look back, we have been talking about the same issues for the last 40+ years.

What or you doing to address this issue in your own back yard?

Are you being proactive?

Are you looking to reduce cost?

Are you making your company more competitive?

So many people have worked hard and put a lot of sweat equity into building their American Dream. Don’t let it slip away.

We are working with our clients, reducing cost and strengthening their bottom line.

The time to act is now!

Do you have a question?

 

Let us know your thoughts?

 

You may email george@hbsadvantage.com

 

Hutchinson Business Solutions ……Your CFO on the Go.

 

Creating Opportunities Today,…Defining Savings for Tomorrow.

Visit http://www.hutchinsonbusinesssolutions.com/ to learn more about saving opportunities available for your company.

 

Spread the good news….. share this information with a friend.

 

One Response to “US Consumer Confidence Index Falls to 26Year Low”

  1. […] Anne-Laure R wrote an interesting post today onHere’s a quick excerptAs reported in Bloomberg April 11 (Bloomberg) — Confidence among U.S. consumers sank to a 26-year low in April as the labor market continued to deteriorate and gasoline prices rose. The Reuters/University of Michigan preliminary index of consumer sentiment decreased to 63.2 from 69.5 in March. The reading was below the lowest forecast in a Bloomberg News survey and the weakest since March 1982. Americans are confronting the loss of 232,000 jobs so far this year, along with higher food and energy costs and overall weakening in the economy. Consumer spending in the first half will advance at the slowest rate in 17 years, according to economists surveyed by Bloomberg News. “The consumer’s feeling increasingly hemmed in,” said Brian Bethune, director of financial economics at Global Insight Inc. in Lexington, Massachusetts. “They’ve got higher energy bills, higher gasoline bills, higher food bills and obviously the employment markets are nowhere near as […] […]

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