consumer comfort plunges

[Doug Henwood]

[This ABC/Money survey is less famous than the Conference Board's 
consumer confidence or the University of Michigan's consumer 
sentiment monthly surveys, partly because it's only been around for 
about 10 years, compared to over 30 for the CB's and over 50 for 
Michigan's. But this is a weekly number, and its moves are usually 
confirmed by its better-known cousins. The link between confidence 
and spending isn't always perfect, but this is not good news for the 
U.S. economy. Since part of this downmove is caused by war anxiety, 
it may be that Bush's bellicosity is undermining the economy, upon 
which his re-election depends.]

At 9:23 AM -0500 1/22/03, The Dismal Scientist wrote:


>--------------------------------------------------------------------------
>The ABC News/Money Magazine Consumer Comfort Index for United States 
>economic release has been updated.
>--------------------------------------------------------------------------
>ABC News/Money Magazine Consumer Comfort Index for United States (-27)
>
>Consumer comfort plunged in the latest week, with the ABC News/Money 
>Magazine Consumer Comfort index recording its lowest reading in more 
>than nine years.  Consumers remain particularly concerned about the 
>health of the economy as the job market remains weak and oil prices 
>continue to climb.