Consumer confidence flat, near record low: report

[UpInArms]

Source: Reuters

NEW YORK (Reuters) - American consumers' confidence was unchanged in the latest week, near its record low as U.S. gasoline prices rose above $4 per gallon for the first time ever and unemployment registered the biggest monthly rise in more than two decades, a report showed on Tuesday.

The ABC News Consumer Comfort Index held at -45 in the week to June 8, not far from its record low if -51 reached two weeks earlier. The index ranges from -100 to +100 and its 2008 average is -36.

"Consumers have plenty of reasons to worry," the news outlet said in a statement. "(Average national) gasoline prices jumped 6 cents to a record $4.04 a gallon, stocks plunged Friday as (light crude futures) skyrocketed by more than $10 a barrel and the biggest monthly surge in unemployment in 22 years underscored the economy's weakness."

The index's three components were mixed in the latest week, as positive views of the national economy were unchanged at 12 percent, views on personal finances gained 1 percentage point to 48 percent and those on the buying climate shed 1 percentage point to 22 percent.

Earlier on Tuesday, Investor's Business Daily and TechnoMetrica Market Intelligence said their IBD/TIPP Economic Optimism Index hit a record low 37.4 in June from 40.3 in May.

Read more: http://www.reuters.com/article/businessNews/idUSN1027931520080610?feedType=RSS&feedName=businessNews

[kestrel91316]

1. Not only are the wheels coming off.........

the sheeple are awaking to the fact the wheels are coming off.

[UpInArms]

2. hey kestrel91316

I'm getting a rescued pug puppy on Friday - is there anything that I should be aware of about that breed (it's coming from a really wonderful rescue refuge) and will be completely health checked

thanks in advance for any advice

UIA

[kestrel91316]

8. Well, given that I haven't done dogs in 17 years......................

I don't have a lot to offer. Don't let the pug get fat - they have enough trouble breathing at normal body weight.

Have fun - they are sweeties.

[UpInArms]

9. thanks

regular exercise is on the menu

:hi:

[OhioChick]

3. Yep....

Too late now.....

[whistle]

4. Consumers are pissed and the index will be -50 to -60 by election day

[spinbaby]

5. No kidding

Honestly, I don't know how some people are making it.

[marions ghost]

6. I wouldn't know what

"consumer confidence" is really like. I don't think I've ever had it. Maybe for a brief time in the 90's we had a glimpse of what the good times feel like. But then it was back to being squeezed by the forces of greed controlling this country.

(I know it's an index...I just love these terms--'Economic Optimism Index'....is it a recession when it hits 0?)

[windoe]

7. I wish this could effectively be a boycott

of the corrupt companies that have destroyed this economy, and more ethical and green companies rise up and replace them.