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Consumer Confidence Is Fading

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    September 25, 2013

    The combination of a possible government shutdown one week from today and the debt ceiling debate that will heat up soon afterward appears to be having an impact on the American mood if the latest survey from Gallup is any indication.

    Though up considerably from the depths seen during the 2008 financial crisis and the debt ceiling crisis in the summer of 2011, Gallup’s economic confidence index is now at the lowest level since March when the “sequestration” budget cuts took effect.

    Gallup Consumer Confidence

    Also today, the Conference Board reported that their index of consumer confidence dropped from 81.8 in August to 79.7 in September due to a decline in the expectations component that fell 4.9 points to 84.1, the lowest reading since May.

    Note that the Gallup survey showed a similar deterioration in Americans’ long-term outlook for reasons that surely involve the debate in Washington over the budget and spending.

    Images: via Flickr (licence attribution)

    About The Author

    As you may have already deduced, this is not your typical financial blog, accompanied by some run-of-the-mill investment newsletter, and I’m not your typical financial writer.

    In fact, I spent my entire working career as an engineer before retiring back in 2007 at the tender young age of 46. Two years prior to that in 2005 I started writing a blog – The Mess That Greenspan Made – mostly just to poke fun at the housing bubble and the policy makers who had led us down that path.

    Details about the investment newsletter and information about the performance of the associated “model portfolio” can be found here and if there are any questions that I can help answer, just send mail to tim@iaconoresearch.com.