Background
This represents the latest monthly summary and analysis of the major indices of consumer confidence, both current and future.
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Summary
- Consumer confidence fell sharply to historic lows.
- Business confidence also declined substantially.
- Consumer purchase empowerment continues to increase as reliance on the internet for advertising and shopping guidance increases.
Findings
After a glimmer of positivity in the January results, consumer confidence plummeted in February. Present confidence fell 13 points while future expectations confidence fell 12 points. The result of these dramatic declines is that future consumer confidence is at its lowest level since 1993. No specific event triggered this decline in confidence as the sum of a series of gloomy reports on housing and the economy likely depressed consumers.
posted: 3/7/2008 1:12 PM
