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

Wounded Bull-Runner: 'If You Run Long Enough, You Get Gored'

Bill Hillmann, a writer from Chicago, contributed to the book Fiesta: How to Survive the Bulls of Pamplona. He was gored at this year's running of the bulls in that city, but says he plans to return.
NPR

What If The World Cup Were Awarded For Saving Trees And Drinking Soda?

We thought you'd get a kick out of seeing how the four teams in the final World Cup matches stack up in global health and development.
NPR

What Could $100 Million Buy You — Besides Campaign Ads In Kentucky?

Spending on the Kentucky Senate race might reach $100 million. So what else could that get you in the Bluegrass State? NPR's Tamara Keith finds out when she calls up some local business owners.
NPR

Looking For Free Sperm, Women May Turn To Online Forums

Bypassing commercial sperm banks, thousands are logging on to websites where women can connect with men at no cost. Anecdotes abound, but the scope of the unregulated activity is unclear.

Leave a Comment

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