ST Alpha - "let me just go on record as believing that consumer confidence is an almost useless metric...." (Reading a Post)

SlickerTalk
Search Archives
The Leaderboard
The FAQ

Down to Post

Backboards:

Posts: 167

let me just go on record as believing that consumer confidence is an almost useless metric....

Posted by x (aka dmuck) Oct 28 '08, 08:28

but, um, ouch.

"A key measure of consumer confidence fell to an all-time low in October as the financial crisis weighed on American household budgets.

The Conference Board, a New York-based business research group, said Tuesday that its Consumer Confidence Index plummeted to 38 in October from an upwardly revised reading of 61.4 in September.

Last month's decline brings the index to its lowest level since its inception in 1967.

"Consumers certainly appear to think the sky is falling," said Adam York, economic analyst at Wachovia Economics Group, in a research note.

Economists were expecting the index to have declined to 52, according to a survey by Briefing.com."

oof (money.cnn.com)

Responses:

C'mon. It's a reflexive metric, like TV ratings. Better than "## think that we're in a recession," anyway. -- nm - Mop Oct 28, 08:35
Consumers certainly appear to think the sky is falling," - ty97 Oct 28, 08:31
No surprises there. - ty97 Oct 28, 08:30
"Consumer confidence dropped from 64.3 to Q..." -- nm - Reagen Oct 28, 08:29 1
- The Calvinball of social sciences... -- nm - Name Withheld By Request Oct 28, 08:30

Post a message top

let me just go on record as believing that consumer confidence is an almost useless metric....

Replies are disabled on threads older than 7 days.