Drumbeat of bad news continues to drive consumer sentiment down

03.07.08 - 17:52 ... source : RBC Financial Group

... RBC CASH Index for July reaches new low of the year NEW YORK, July 3, 2008 — Soaring gas and food prices and a stock market that just endured its worst June performance since the Great Depression are draining consumers' wallets as well as their confidence, according to the most recent results of the RBC CASH (Consumer Attitudes and Spending by Household) Index. The survey found that, while consumer attitudes regarding the employment market show signs of stabilizing, Americans' confidence in future personal financial conditions, current conditions and investments continue to weaken. As a result, the overall RBC CASH Index for July 2008, released today by RBC, dropped to 14.6, a new all-time low since its inception in 2002, compared to 22.5 in June. "The decline of the RBC CASH Index suggests that consumer sentiment has fallen to the dismal level of the early 1980s. Consumers are being ground down by ...» Next (HTML)