Skip to: Content
Skip to: Site Navigation
Skip to: Search

May 13, 2008 8:30:32 AM CDT

Learn about Newser Points »

Back to the grid

Consumer Confidence Hits 26-year Low  

Posted Apr 25, 08 10:59 AM CDT in Business    Most Covered

(newser) – Consumer confidence fell to a 26-year low in April, as the public fretted over inflation and housing, Reuters reports. The index fell to 62.6, surpassing the 63.2 analysts had predicted. Nearly 90% said the economy is in recession. Respondents also said they were unlikely to spend their stimulus or tax-rebate checks, planning instead to save them or pay down debt.

"Never before in the long history of the surveys have so many consumers reported hearing news of unfavorable economic development as in the April survey," the survey said.

Source Reuters

open commentscomments (0)

Editor Recommended

Sentiment down more than anticipated
Bloomberg | Apr 25, 08

Stocks muddled, but dollar gains
Wall Street Journal | Apr 25, 08 Subscription

Stimulus checks on the way
CNNMoney | Apr 25, 08

Why the worst could be over
CNNMoney | Apr 25, 08

Related News

  • Economic Blues Take Toll on State Budgets

    Apr 25, 08 1:21 PM CDT
    Economic Blues Take Toll on State Budgets The slumping economy will pummel state budgets in the next fiscal year, leaving them at least $26 billion short, according to a survey from the National Conference of State Legislatures. Payrolls fell drastically in March and consumer confidence is low, a double whammy for state tax revenue. "With a few exceptions, state finances are deteriorating, in some cases considerably,” the survey said. More »

  • Fed Ponders Pause in Rate Cuts—After 1 More

    Apr 24, 08 10:05 AM CDT
    Fed Ponders Pause in Rate Cuts—After 1 More The Federal Reserve may be ready to cool its torrid rate-cutting after a likely .25% percentage point cut at its meeting next week, the Wall Street Journal reports. Futures markets are betting Chairman Ben Bernanke is unlikely to rest just yet, with little change in the month-to-month economic picture, but will pause after that to assess the cuts' effect and avoid stoking inflation. More »

  • March Foreclosures Up 57% Over Last Year; Worst Coming

    Apr 15, 08 6:55 AM CDT
    March Foreclosures Up 57% Over Last Year; Worst Coming Bank repossessions skyrocketed 129% over the 12-month period ending in March, and foreclosure filings rose 57% over the previous year, RealtyTrac announced today. March foreclosure notices rose 5%, after a 4% decline in February. All this “is ongoing fallout from people overextending themselves and using highly toxic loan products,” said a RealtyTrac VP. And it hasn't peaked yet. More »

  • Consumer Confidence Hits 26-Year Low

    Apr 11, 08 11:10 AM CDT
    Consumer Confidence Hits 26-Year Low Consumer confidence hasn’t been this low since 1982, according to the Reuters/University of Michigan index, which reported a slide to 63.2 from March’s 69.5. That was lower than even the lowest estimates in a Bloomberg analyst poll. “The consumer’s feeling increasingly hemmed in,” said one economist. “The economy is in a recession.” More »

  • Personal Spending Slows to a Crawl in February

    Mar 28, 08 11:37 AM CDT
    Personal Spending Slows to a Crawl in February Personal spending—a major force in the health of the economy— rose just 0.1% in February, its smallest increase in 16 months, the Wall Street Journal reports. The increase, which actually beat analysts' estimate of a 0.1% decrease, came despite a bump in personal income and signs that inflation is easing, the Journal notes. More »

Consumer Confidence Hits 26-year Low
Ellie Lento fills her vehicle with gasoline at a BJ's Wholesale Club in Colonie, N.Y., Wednesday, Nov. 21, 2007.   (AP Photo/Mike Groll)
Consumer Confidence Hits 26-year Low
A pedestrian makes her way past a window display outside a Santa Monica, Calif., clothing store, Friday, Sept. 21, 2007.   (AP Photo)
Consumer Confidence Hits 26-year Low
An exchange rate board is seen in London, Wednesday, April 9, 2008.   (AP Photo/Kirsty Wigglesworth)
prev   next
play

Threads (1 of 3)

Tags

recession  • inflation  • subprime crisis  • economy  • consumer confidence  • economic indicators


Loading...

Loading...

Related Threads: Subprime Collapse, Is It Recession?, Is Tourism Dying?

Next story from this section »

Today's Most Popular

Loading...

Other Business Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »