The AP is reporting that consumer confidence has reached its lowest point since the RBC Cash Index began recording the phenomenon in 2002.
Currently, the index is at 29.5, dropping from its March level of 33.1.
The RBC Cash Index is a monthly survey of consumer spending and the future and current state of economies.
It is released during the first week of each month.
This is not a good sign for the economy and when we see numbers like those, we often see more people losing jobs and filing bankruptcy.
Tags: consumer confidence, filing bankruptcy
This entry was posted on Friday, April 11th, 2008 at 12:08 pm and is filed under Economic News: How Are We Doing?. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.