Filed under: Bad news, Economic data
Consumer confidence declined to an all-time low in early January 2008, according to one measure, as concerns about jobs, energy prices, and home foreclosures weighed on the public’s outlook for the economy and their personal finances, The Associated Press reported Friday.
The RBC Cash Index fell to 56.3 in early January 2008 from 65.9 in December 2007, RBC said in a statement. The January stat is the lowest reading since the index’s inception in 2002, RBC announced. One year ago, in January 2007, the idex stood at a healthy 95.3.
Economic headwinds weigh
Economist David H Wang told BloggingStocks Friday the data reflects consumer awareness of sub-par U.S. economic fundamentals, and the uncertain outlook for the nation in 2008.
Continue reading U.S. consumer confidence hits 6-year low
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