Equipment Type

Status and Forecast

August 01, 2008

Consumer Confidence Index

Consumer confidence has fallen to a deep recession level, closely tracking gas-pump prices. Steady gas prices for a month through mid-July suggest no further large drops in confidence soon ahead. The extremely low value overstates consumer concern about the economy because real consumer spending continues to expand. But the lack of buyer confidence does preclude any significant improvement in spending or the economy for the rest of the year. Business confidence remains more buoyant than consumer confidence.

For more analysis, visit Economic Outlook at

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