Tuesday, February 24, 2009
consumer confidence fades to black
The Conference Board’s confidence index dropped more than anticipated to 25, the lowest level since data began in 1967, the New York-based research group said today.
a deep cut in the future expectations accompanied another decline in present situation, erasing much of the positive indication of the december report. the future expectations graph (yellow) is terrifying. one wonders how long present conditions and future expectations can conduct this race to the bottom.
UPDATE: more from calculated risk:
The Present Situation Index (not shown) is low, but not as low as in some earlier recessions (the Present Situation Index is at 21.2, it fell to 16.2 in 1982). What pulled down the overall index was that the Expectations Index was at an all time low. People are really concerned about the future.