Consumers confidence stays low
A new survey of consumers shows that American confidence in the economy has not recovered to pre-recession levels.
Today's release of the Reuters/University of Michigan Survey of Consumers for October indicated another decline in consumer sentiment with a reading of 67.9 dropping 3.82% below the level seen last year.Skip to next paragraph
Writer, The PaperEconomy Blog
'SoldAtTheTop' is not a pessimist by nature but a true skeptic and realist who prefers solid and sustained evidence of fundamental economic recovery to 'Goldilocks,' 'Green Shoots,' 'Mustard Seeds,' and wholesale speculation.
Subscribe Today to the Monitor
The Index of Consumer Expectations (a component of the Index of Leading Economic Indicators) increased to 64.6, and the Current Economic Conditions Index declined notably to 73.0.
It's important to recognize that while consumer sentiment is still higher than the panic laden trough level seen in late 2008, the current sentiment level is far lower than any level seen during the 2001 tech recession and roughly equivalent to the worst seen during the early 1990s and second dip 1982 recessions.
The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here. To add or view a comment on a guest blog, please go to the blogger's own site by clicking on the link above.