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NEWS ABOUT: consumer confidence

Consumer Confidence Hits All-Time Low

Economists expected a rise this month after dreary November

(AP) - US consumer confidence hit an all-time low this month, dropping unexpectedly in the face of layoffs and deteriorating investment markets. The Consumer Confidence Index, expected to rise incrementally to 45, fell to 38 in December from a revised 44.7 last month. The Present Situation index, which measures how respondents... More »

Poll: 72% of World Cutting Spending

Economic malaise spreads to emerging markets, hits hard

(Newser) - Nearly three-quarters of households worldwide are cutting spending, with emerging markets particularly fretful about global economic woes, a 22-country survey found. Those countries are facing “precipitous decline," putting “in check any notion of 'decoupling’”—the idea that emerging markets are working independently of those of... More »

Slim Gain Is Dow's 3rd in Row

New consumer credit plan inspires confidence on the street

(Newser) - Stocks were mixed today, as enthusiasm over the Fed’s plan to get banks lending was tempered by a downward revision to third-quarter GDP and a drop in a home-price index, the Wall Street Journal reports. The Dow rose 36.47—its third consecutive up session—to 8,479.86.... More »

Ways to Cut Your Bills Down to Size

Usual belt-tightening suspects abound: Eat at home, cut out luxuries, get a second job

(Newser) - Spendthrift Americans from all rungs of the income ladder are taking a page from Scrooge these days, adopting new, cash-lite strategies to get through hard times, USA Today notes. They're managing to save by:
  • Hocking whatever's collecting dust in their closets: The average household has $3,200 worth of
... More »

Seeking Xanadu, Shopping Malls Find Purgatory Instead

Waning consumerism, economic downturn take toll on uniquely American institution

(Newser) - An American institution—the shopping mall—is slouching toward extinction, Newsweek reports. With a record number of retail outlets, including ubiquitous Gap and Foot Locker, planning closures, roughly 20% of the 2,000 largest malls are failing, says one professor, leaving the fate of developing mega-malls like New Jersey’s... More »

To Avoid Recession, Cheer Up: Aussie Pol

Finance minister pushes power of the positive

(Newser) - Australia's finance minister apparently didn't see what happened to Phil Gramm  last summer when he declared that the US economic slowdown was "mental" and called Americans a "nation of whiners."  The recession would disappear, said Ken Henry, if Australians would  just buck up, Australia’s News... More »

Dow Rally Ends Dreadful Month

(Newser) - Stocks rallied today despite a slew of poor economic reports as investors instead focused on falling rates in the credit markets, MarketWatch reports. Though the Dow was up 11.3% for the week, October ended as the worst month since 1987. The Dow rose 144.32 to close at 9,... More »

Chill Out: It's a Recession, Not the Apocalypse

London's mayor has some advice for the queen: Buy a dress

(Newser) - If you’re fretting, panicking, or just plain moping about the economy, Boris Johnson has some advice: Wake up and go shopping. “This isn’t some disaster movie about a virus from Mars. It’s a recession,” the mayor of London writes in the Daily Telegraph. “It... More »

Consumer Confidence Hits All-Time Low

Signs point to drop in consumer spending, deepening downturn

(Newser) - Consumer confidence hit a record low in October, Bloomberg reports, raising the specter that spending will slow significantly. The Conference Board’s index dove to 38, the lowest reading since the metric’s inception in 1967, and far worse than analysts expected. With the stock markets volatile, home equity deteriorating,... More »

Stocks Sink, Yet End Week Up

More ugly news makes for yet another volatile day

(Newser) - Stocks remained volatile and swung lower at the end of the today’s session,as bad economic news convinced investors the financial crisis is not over yet, MarketWatch reports. The Dow closed down 127.04 at 8,852.22, but posted a weekly gain after four weeks of losses. The... More »

Wary Consumers Spell Trouble for Retailers

71% miss projections, worst showing since September of 2000

(Newser) - With the holiday season looming, retailers' only hope may be a genuine Christmas miracle. In reports on last month's business, 71% of retailers missed sales and profits estimates, making it the worst September since data collection began in 2000, MarketWatch reports. Experts widely attributed the dismal numbers to the struggling... More »

Consumers Squeezed, Spending Stalls

As prices rise, wages fall and unemployment jumps, spending growth has stalled

(Newser) - The current economic crisis is shaping up to be different than others Americans have weathered in the past 20 years in an important respect, the Washington Post reports: consumer spending, which the nation could always count on to propel the economy through, has stalled. Real spending, the catalyst behind 70%... More »

Stocks Flat on Mixed News

Convention, vacations mean trading volume stays light

(Newser) - Stocks were mixed amid mostly poor economic data today, the Wall Street Journal reports. With trading light and much attention focused on the Democrats’ economic plans, the Dow gained 26.62 to close at 11,412.87. The Nasdaq fell 3.62, closing at 2,361.97, while the S&... More »

Financials Key Big Turnaround

Surge by BofA, lower oil prices key rally that erases previous day's tumble

(Newser) - Investors, cheered by Merrill Lynch’s attempt to regain its financial footing, plowed ahead today despite ugly news on housing prices and consumer confidence, the Wall Street Journal reports. The rally helping the major indices recoup yesterday’s losses—and then some. The Dow was up 266.48 to 11,... More »

Home Prices Fall Again; Rate of Decline Sets Record

Consumer confidence numbers offer ray of hope

(Newser) - Home prices continued to nosedive in May, a signal that the housing crisis may be worsening and a red flag for the credit markets and Wall Street, reports the New York Times. Every region covered by the S&P/Case-Schiller home-price index showed a drop compared to May 2007, with the... More »

Stocks Dip as Fed Meets

Fed inaction spurs recovery from bad economic news

(Newser) - The markets seesawed throughout today's session, closing down slightly as a minor rally in financials offset bad economic news and warnings of a poor quarter for UPS, MarketWatch reports. The Dow fell 34.93 to 11,807.43, Nasdaq dropped 17.46 to 2,368.28, and the S&P... More »

Oil Surges; Markets Record Weekly Gains

Consumer confidence hits 28-year low

(Newser) - Stocks fell, then climbed back almost to opening levels today to wrap up a generally strong week. Yet another record oil price—almost $128 a barrel—drove early losses, and a report of the lowest consumer-confidence rating in 28 years did not help. The Dow closed down 5.86 at... More »

Consumer Confidence Hits 26-year Low

Inflation, housing put people in a funk; most call it a recession

(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... More »

Markets Plunge on GE News

Dow drops 256 points after surprisingly weak earnings report

(Newser) - The markets went into a tailspin today after GE shares declined 13%—the company's worst performance since the 1987 crash, the Wall Street Journal reports. The Dow fell 256.56 points to close at 12,325.42, the Nasdaq dropped 61.46 points to 2,290.24, and the S&... More »

Consumer Confidence Hits 26-Year Low

Index drops far below expectations on job, economy fears

(Newser) - 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,”... More »

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