Consumer Confidence 'Plummeted In August' | WAMU 88.5 - American University Radio

NPR : News

Filed Under:

Consumer Confidence 'Plummeted In August'

Blunt words from The Conference Board in its just-released report on how consumers are feeling:

"The Conference Board Consumer Confidence Index, which had improved slightly in July, plummeted in August."

The widely watched index now stands at 44.5, its lowest point in more than two years, vs. 59.2 in July. In good times, the index often stays well above 100.

Lynn Franco, the private business research organization's Consumer Research Center director, says in a statement that the index "deteriorated sharply ... as consumers grew significantly more pessimistic about the short-term outlook. ... A contributing factor may have been the debt ceiling discussions since the decline in confidence was well underway before the S&P downgrade."

Since consumers buy about 70 percent of all goods and services, their mood is closely watched for signs of how strong — or weak — demand will be in coming months.

The stock market isn't doing well at this moment: the Dow Jones industrial average is down about 250 points, or 2.25 percent.

Copyright 2011 National Public Radio. To see more, visit http://www.npr.org/.

NPR

Mexican TV Icon Roberto Gómez Bolaños Dies At 85

The actor, writer and director was a staple of Mexican television comedies and children's programs for decades.
NPR

From Humble Salt To Fancy Freezing: How To Up Your Cocktail Game

You don't need to have liquid nitrogen at your next cocktail party — but it's certainly a sure-fire way to impress your guests. Expert mixologist Dave Arnold walks you through it.
NPR

Week In Politics: Hagel's Resignation, Ferguson Grand Jury Decision

NPR's Ari Shapiro speaks with E.J. Dionne of The Washington Post and Brookings Institution and David Brooks of the New York Times about the grand jury's decision not to indict police officer Darren Wilson and the resignation of Defense Secretary Chuck Hagel.
NPR

Millennial Doctors May Be More Tech-Savvy, But Is That Better?

Text messages from your doctor are just the start. Millennials are the next generation of doctors and they're not afraid to say "chillax" in a consultation or check Twitter to find medical research.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.