Filed under: Bad news, Recession

Consumer confidence in the economy dropped even lower in February 2008, on concerns that job growth will slow and that the U.S. economy may fall into a recession, RBC Bank announced Friday, in its monthly survey.

The RBC Cash Index dropped to 48.5 in February 2008 from 56.3 in January 2008. The February 2008 stat was the index’s lowest reading since the bank started the index in 2002, the bank said.

RBC (NYSE: RY) said the February 2008 reading continues a downward trend that has persisted through the last year, with consumer sentiment fell across the board - - with concerns about the U.S. economies health and worries about job security and investing weighing on Americans.

Economist Glen Langan told BloggingStocks Friday this month’s RBC survey is consistent with other polled data on the current economic mood of Americans.

Continue reading RBC consumer confidence index drops to lowest level since 2002

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