Reuters & University of Michigan Consumer Sentiment
Reuter's/U of Mich Consumer Sentiment April 62.6 vs prior 69.5 Full Report
Inside the number: Consumer confidence dropped for a 3rd straight month to a 25 year low as a majority of consumers now echo our Nattering sentiments...
"Nearly nine in 10 consumers thought the economy was already in recession and three-in-four anticipated
that bad times financially would persist for at least another year. This was the worst assessment of overall economic since the early 1980's.
Rising uncertainty about future living standards has caused consumers to adopt more prudent spending plans and become more wary of incurring new debt.
More consumers reported that their personal financial situation had worsened than any time since 1982
due to high fuel and food prices as well as shrinking income gains and widespread reports of declines in home values.
All households now anticipate smaller income gains and larger price increases, as just one-in-five now expect
their overall finances to improve during the year ahead, the least favorable reading in more than a quarter century.
More consumers reported hearing news reports of unfavorable economic developments in April than any other time in the fifty years history of the survey,
with job losses, rising prices, and the fallout from the housing and credit crisis dominating the reports."
Inside the number: Consumer confidence dropped for a 3rd straight month to a 25 year low as a majority of consumers now echo our Nattering sentiments...
"Nearly nine in 10 consumers thought the economy was already in recession and three-in-four anticipated
that bad times financially would persist for at least another year. This was the worst assessment of overall economic since the early 1980's.
Rising uncertainty about future living standards has caused consumers to adopt more prudent spending plans and become more wary of incurring new debt.
More consumers reported that their personal financial situation had worsened than any time since 1982
due to high fuel and food prices as well as shrinking income gains and widespread reports of declines in home values.
All households now anticipate smaller income gains and larger price increases, as just one-in-five now expect
their overall finances to improve during the year ahead, the least favorable reading in more than a quarter century.
More consumers reported hearing news reports of unfavorable economic developments in April than any other time in the fifty years history of the survey,
with job losses, rising prices, and the fallout from the housing and credit crisis dominating the reports."
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