Skip to comments.Consumer confidence dip is bad holiday omen
Posted on 09/29/2009 10:24:19 AM PDT by Kartographer
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.
(Excerpt) Read more at money.cnn.com ...
No sh**. Every year, the same story at the same time.
I don’t feel very confident that folks without jobs will be buying a lot for Christmas. So this is no surprise.
depends on the black Friday deals, if any..
It was only days ago, the report was out Consumer Confidence was UP..........wth?
Those with money are guarding every penny, and those who are jobless are broke and won’t be spending much on the holidays anyway.
It will be an interesting Christmas season, that’s for sure.
The CNN Economy Tracker:
More like it depends on if there is an October ‘Black Friday’.
But, but, but, but, the stock market was up 100 pts yesterday and is nearing 10000 and Obama says the recession is over!
Despite MSM/SCM push to make things look all peachy, it’s not happening.
Every policy the Baraqqis propose is bad for small business.
That’s where the job creation comes from.
You could be right. A year ago, there was Circuit City, the store..now it’s a website.
I think they’re lowering expectations so if the economy goes further south, it’d be expected and not big news. And if the sales are great, 0bama has saved us again.
Can’t be true. My rule of thumb regarding press forecasts of Christmas sales is quite simple - if a Republican is president, then Christmas sales will be down. If a Democrat is president, then Christmas sales will be up.
A Democrat is president, ergo Christmas sales will be up.
Has nothing to do with the economy, but we do have to set expectations (and we must keep up with the Jones’s)
This Christmas I’m giving myself the gift of zero debt....
Everyone knows when you raise the minimum wage unemployment goes up, add that to a recession and you have the makings of a very very long jobless recession.
With unemployment at 9.7%, over 500,000 jobs a week being lost, unemployment benefits running out, and record high defaults on mortgages and credit cards, just who are the economists who thought consumer confidence would improve?