KBTX - Money - Headlines

Consumer Confidence Sinks to Another New Low

By: AP
By: AP


WASHINGTON (AP) - The steady drum beat of job losses, home
foreclosures and rising energy prices has pushed consumer
confidence to a new low.
According to the RBC Cash Index, confidence in early April
dropped to a level of 29-and-a-half against a benchmark reading of
100. It's down from 33 in March.
It's the lowest confidence mark since the index began in 2002
and marks the fourth month in a row that consumer confidence hit a
new low.
Worsening problems with housing and credit, plus the financial
turmoil on Wall Street and sky-high fuel prices have put people in
a gloomy mind-set.
Last April, confidence stood at 85, based on results from the
international polling firm Ipsos.


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