Tuesday, February 26, 2008

US Consumer Confidence

US consumer confidence plummeted again in February, with the Consumer Confidence Survey conducted by the Conference Board reaching 15-year lows. The index fell by 12.3 points, to 75.0. Economists were expecting a reading of 82.0.

The expectations index fell sharply as well, falling from 69.3 to 57.9. The expectations index is at a 17-year low.

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- comments from Lynn Franco, director of The Conference Board Consumer Research Center.

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