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New Lows in Consumer Confidence

12/7/08

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Tags: Consumer Confidence

From Rasmussen Reports

• Just 7% of Americans now say the economy is getting better while 73% say it is getting worse.
• Only 33% now rate their own personal finances as good or excellent, down from 41% when the year began.
• Eighty-three percent (83%) of Investors say they have lost money on their investments over the past year. Just 18% say their own finances are getting better, while 57% say their finances are getting worse.

» Commentary by Kris Lazaro (registered Democrat)

Sometimes, it is difficult to put the daily numbers in context without viewing a longer-term trend. For the full-month of November, confidence fell to the lowest levels recorded in the seven-year history of the Rasmussen Index. That's the sixth time in nine months that a new record low has been establish. Since January 2007, confidence has crashed with the Consumer Index falling 46% and the Investor Index falling more than 50%. Bleak as those numbers were in November, the Consumer Index has stayed below the November average for every day of December.

As folks start budgeting for their Christmas presents, the issue of the economy rears its ugly head with more fervor than it would have a month ago. So as folks start cutting back on how much they spend come Christmas time, they will be looking at the economy with disdain. For those reasons, we have hit all-time new lows.

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