The Weekly Survey of Consumer Attitudes Signals Recession
I realize this is a weekly survey, but the trend is down significantly in the last month. Has the consumer finally figured out that the economy is really sliding? Text in bold is my emphasis. From Market Watch:
A weekly survey of consumer attitudes about the economy fell to its lowest level since late 1993, ABC News and the Washington Post reported Tuesday. The ABC/Post consumer comfort index fell six points last week to negative 33. The index has fallen 13 points in the past month, "an unsettling sign," ABC News said, noting a 13-point drop before the 1990 recession and a 14-point drop before the 2001 recession. Just 22% of the consumers polled view the economy as good or fair, a 5-point drop from a week earlier. Attitudes about the buying climate and personal finances also fell. The record low for the index was reached in February 1992 at negative 50. The index is usually slightly negative.