Consumer Confidence Dip Is Bad Holiday Omen

[Purveyor]

Source: Associated Press

Index of consumers' moods declines surprisingly in September, highlighting concerns about weak retail sales at year end.

By Ben Rooney, CNNMoney.com staff

NEW YORK (CNNMoney.com) -- A key measure of consumer confidence fell in September, after a gain in the previous month, raising concerns about retail sales in the upcoming holiday season, a research group said Tuesday.

The Conference Board, a New York-based business research group, said its Consumer Confidence Index fell to 53.1 in September from an upwardly revised 54.5 in August.

Economists were expecting a reading of 57, according to a Briefing.com consensus survey.

"Consumers remain quite apprehensive about the short-term outlook and their incomes," said Lynn Franco, director of the Conference Board Consumer Research Center. "With the holiday season quickly approaching, this is not very encouraging news."

The index component that measures consumers' assessment of the present situation fell to 22.7 from 25.4. The expectation index, which gauges consumers' outlook over the next few months, dropped to 73.3 from 73.8 last month.

Read more: http://money.cnn.com/2009/09/29/news/economy/consumer_confidence/?postversion=2009092911

[CatholicEdHead]

1. Taking a temp summer job at a big box store shows this to be true

the sales were down all summer and the full timers kept getting their hours cut. You walk around and the shelves are mostly half empty and only the basics get a restock. There may be a Black Friday craziness but it will not continue on much beyond that date.

[Warpy]

2. Well, gee whiz, who could have forseen

that throwing us out of work in favor of overseas operations and bringing in H1B workers to provide cheaper labor could possibly dampen consumer enthusiasm?

Maybe this will be the Xmas season that finally gets through to them that all the bailouts the government can provide are not going to work if they don't have customers.

[rubberducky]

5. You hit the nail on the head, Warpy.

I have been thinking for awhile now that this holiday season will send a huge message. The middle class is out of jobs and therefore out of money. My whole extended family has totally revised our holiday spending this year. Instead of gifts we will have a nice feast and enjoy just being together.

[MUAD_DIB]

10. I was the one in my family that proposed cutting xmas gifts

except for the children.

To my surprise everyone was for it.


Not having to give gifts takes the edge off of guessing what everybody wants.

If I could give them the gift of a strong economy I would do that, but I won't max out my credit cards for overseas profits.

[mvd]

3. I never undersood the huge spending craze anyway

My family buys each other nice gifts, but we don't break our budgets. And I also remember, as a liberal but still Christian, what the day is about.

[Andy823]

4. I agree with you.

Christmas has become a holiday where it seems that you "have" to outdo everyone, and go into debt for the rest of the year trying to pay off what you buy for Christmas. The only ones who make out our the retailers. This year I think the vast majority of Americans will be cutting back. As has been stated already in this thread, big corporations need to realize that outsourcing in order to increase their profits isn't going to do them any good it there is nobody left to buy their stuff once they bring it back the the states.

[Jennicut]

6. Yup. Its pure consumption at its worst.

I usually make little ornaments with my girls for the whole family.

[demigoddess]

9. i agree with you, we usually go pretty light on christmas unless someone needs

something. A lot of our presents are from garage sales or thrift stores or homemade. I'm making some christmas presents out of scraps right now. We appreciate the get-togethers more than the gifts.

[Endangered Specie]

14. Good point, even as an agnostic, Id rather see the orignal meaning of christmas

back rather then the rampant consumerism and commercialization that has gone waaay to far. Reading about those stampedes at 4am on black friday and parents fighting over the elmo doll is just plain disgusting.

[defendandprotect]

7. Imagine what MEDICARE FOR ALL would do for the mood of the nation -- !!!

Btw, C-span 3 is playing the health care hearings --

Jay Rockefeller is pushing public option --

Repugs disgusting as usual --

[FirstLight]

8. Holidays...???....fuckin HOLIDAYS!!!!????!!!

I am recycling scraps of fabric and getting creative for Halloween, and hoping NOT to have to buy candy (since we are on a less than traveled road)

...and Thanksgiving = Thank God for Food Stamps

Christmas?
We will have a tree thanks to nice folks at church who will give us a permit and we'll forge into the nearby forest...
I'll look for layaway soon and hope to find some bargain table items over the next month
but the kids pretty much know they get most of the 'stuff' at aunties & nanas...cuz we are the poor folk in our family.

Someday... Id like to be ABLE to get something meaningful or nice for my sister and Mom. I know they don't expect much from us, but it still feels like shit.
I hate the holidays, thanks for bumming my day by making me even THINK about it...ack!

[JNelson6563]

16. Perspective

We were pretty poor when my kids were young too, definitely the "poor relations" among the greater family unit. Still, we made stuff, decorated our house with our handmade decorations, ate our home-made treats and enjoyed the company of our extended family. We were poor but we had fun anyway.

Julie

[No Elephants]

11. I love how they always frame it as lack of confidence, rather than lack of jobs/money.

[Lone_Star_Dem]

12. In a consumer based economy they've essentially froze out the base

Then they have the audacity to act surprised that Americans cannot consume at their previous rates.

How bizarre.

[hatrack]

13. Go-lee! Who could POSSIBLY have forseen this?!?!?

What the FUCK could conceivably be "surprising" about this "news"?

:eyes:

[Endangered Specie]

15. heh, maybe they should try HIRING people