Consumer confidence dips to all-time low

Author:
Updated:
Original:
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

Viking Holds Vaccination Event

The New Jersey-based builder is working with local healthcare providers to offer Covid-19 shots to employees and their families.

Bellingham to Supply Dock for Superyacht Marina

Bellingham Marine will design and install a floating concrete dock system at Hurricane Hole Superyacht Marina in the Bahamas.

Off the Charts

Even as builders faced order backlogs and product shortages, registrations continued to soar in March.

Maverick Boat Group Expands

The Florida-based builder plans to increase production capacity by 30 percent and add 150 new jobs.

Polaris Names CEO and CFO

Previously interim executives, Michael Speetzen was named the CEO and Bob Mack the CFO of the Minnesota-based powersports company.

Sanlorenzo Reports Q1 Financials

The Italian builder continues to gain market share and expects to debut five models at Cannes in September and launch three new lines in 2022.