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Post by jeffolie on Aug 22, 2007 11:42:04 GMT -6
The ABC News/Washington Post Consumer Comfort Index tanked to -20 in the latest week from -11 in the previous period. It was the first time the index fell 9 points in a week since it was launched in 1985. The measure ranges from -100 to +100 and its 2007 average is -7. Confidence measures are generally viewed as a barometer of consumer spending, which accounts for two-thirds of the U.S. economy. www.reuters.com/article/economicNews/idUSN2139037720070821
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Post by jeffolie on Aug 22, 2007 11:44:45 GMT -6
Poll of 1,000 consumers finds nearly half are worried about credit, subprime problems but unsure how it affects them. By Parija B. Kavilanz, CNNMoney.com senior writer August 21 2007: 11:53 AM EDT NEW YORK (CNNMoney.com) -- The deepening credit crunch, subprime mortgage meltdown and triple-digit drops in the stock market are making Americans nervous about their financial situation but not enough to significantly curtail their shopping habits yet, a survey said Tuesday. The survey of 1,000 consumers, conducted Aug. 16-19 by the International Council of Shopping Centers and UBS Securities, found that 46 percent of those polled said they were aware of the recent market turbulence, though they had not changed their spending habits. This group said they were optimistic the crisis in the credit markets would settle down soon. Thirteen percent said they were aware of the market activity and will think twice before making major or non-essential purchases, and another 13 percent said that while they were aware of the situation, the stock market doesn't affect their personal spending. Another 25 percent said they aren't following the financial situation while the remainder of those polled said they did not know how the credit and mortgage woes might affect them. Consumer spending is watched closely since it fuels more than two-thirds of the nation's economy. money.cnn.com/2007/08/21/news/economy/consumer_concerns/index.htm
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Post by jeffolie on Aug 22, 2007 11:49:18 GMT -6
This confirms my view that the general consumer has shifted out of Denial but is just starting to edge into Fear.
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