Consumer Confidence at 5-year Low

Posted by Patrick O'Connor on 4/29/08 9:28 am

The Conference Board’s Consumer Confidence Index dropped to a five-year low in April after home prices continued to plunge, gasoline prices hit fresh all-time highs, and jobs became less plentiful.  Confidence is now “consistent with real consumers’ spending falling at a year-over-year pace of about -2%,” said economist Ian Shepherdson at High Frequency Economics.

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