Consumer Confidence Approaches Year Low

[CShine]

Overall consumer confidence hovered last week near its low for the year, according to an ABC News/Money Magazine poll. The poll's consumer comfort index slipped one point to negative 19 for the week ending Sunday, down from negative 18 a week earlier, according to the report released Tuesday.

The index has shed eight points since mid-May and is just three points above its 2004 low of negative 22, which it reached in March. The poll has a margin of error of plus or minus three percentage points.

According to the survey, 33 percent of respondents expressed confidence in the economy, down from 34 percent the week before. Also, 54 percent of those polled said their own finances were in good standing, down from 55 percent in the prior week. In assessing the buying climate, 34 percent of respondents said it was good, unchanged from a week earlier.

http://story.news.yahoo.com/news?tmpl=story&ncid=1203&e=3&u=/ap/20040609/ap_on_bi_ge/consumer_confidence&sid=95609868

[Cocoa]

1. that's before the Reagan bounce

people will catch Ronnie's infectious optimism and all will be well.