Monday, June 23, 2008

Consumer Confidence


Tomorrow The Conference Board releases its June estimate for Consumer Confidence. May’s figure was 57.2 (1985 = 100.0).

In the May release, Lynn Franco, Director of The Conference Board’s Consumer Research Center said:

“The Consumer Confidence Index now stands at a 16-year low (Oct. 1992, 54.6). Weakening business and job conditions coupled with growing pessimism about the short-term future have further depleted consumers' confidence in the overall state of the economy. Consumers' inflation expectations, fueled by increasing prices at the pump, are now at an all-time high and are likely to rise further in the months ahead.”

That looks like it could be a description of this month’s situation. We’ll see.

© 2008 Michael B. Lehmann

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