Consumer confidence sinks, again
The Conference Board's Consumer Confidence Index fell to an eight-year low in December. This spells more trouble in 2003.
Posted by Mitch Ratcliffe at December 31, 2002 01:16 PM | TrackBack
“Latest signals from consumers are in keeping with a continuing mixed bag of economic news,” says Lynn Franco, Director of The Conference Board’s Consumer Research Center. “But the major factor dampening consumers’ spirits has been the rising unemployment rate and the discouraging job outlook. Weak retail sales over the holidays clearly reflect the current mood of consumers. Until there is an improvement in labor market conditions, there is not likely to be a significant upturn in consumer confidence.”