Consumer confidence dips to all-time low - Trade Only Today

Consumer confidence dips to all-time low

Author:
Publish date:
61_cci_chart

The global financial upheaval has driven consumer confidence to the lowest level ever recorded by the Conference Board.

After showing modest improvement in September, the board’s Consumer Confidence Index plunged more than 23 points in October. The index, which stood at 61.4 in September, hit an all-time low of 38 in October. The 23.4-point decline was the third largest since the Conference Board began compiling the index in 1967.

“The impact of the financial crisis over the last several weeks has clearly taken a toll,” said Lynn Franco, director of the Conference Board’s Consumer Research Center, in a statement. “Looking ahead, consumers are extremely pessimistic, and a significantly larger proportion than last month foresees business and labor market conditions worsening.”

This article originally appeared in the December 2008 issue.

Related

E-nnovation Lab to expand at 2018 Metstrade show

The growing demand for hybrid and electric engines is becoming more apparent within the leisure marine market, prompting Metstrade to introduce the E-nnovation Lab platform for electric propulsion technology.

Aluminum, tow boats lead moderate growth in May

Boat registrations were up 2.1 percent in May in the main powerboat categories, and rose 3.2 percent in all categories, according to preliminary data from Statistical Surveys Inc., a Michigan company that tracks new boat registrations.

Retaliatory tariffs on boats to EU start today

The 25 percent tariff the EU announced Wednesday on U.S.-built boats kicks in today, and a 10 percent tariff on boats sold to Canada will start July 1, prompting boatbuilders to worry they will lose sales to those countries.