Consumers Most Negative Since Recession

[xchrom]

http://www.bloomberg.com/news/2011-10-20/u-s-consumers-most-negative-on-economy-since-recession-in-bloomberg-index.html

Consumer confidence in the U.S. economic outlook slumped in October to the lowest level since the recession, highlighting the challenges facing the biggest part of the economy.

The Bloomberg Consumer Comfort Index’s monthly expectations gauge dropped to minus 45, the worst reading since February 2009. The weekly measure of current conditions was minus 48.4 for the period ended Oct. 16, up from minus 50.8 the prior week that was close to a record low.

A volatile stock market, little hiring and a lack of wage gains are souring Americans’ moods, raising the risk that the consumer spending that accounts for 70 percent of the economy will slump. Policy makers from Federal Reserve Chairman Ben S. Bernanke to President Barack Obama are taking steps to spur growth in the world’s largest economy.

The report “is indicative of the sour mood of the American public,” said Joseph Brusuelas, a senior economist at Bloomberg LP in New York. They now “expect economic conditions to deteriorate regardless of the recent increase in economic activity.”

[begin_within]

1. The recession ended?

[hobbit709]

2. What's this "since the recession" BS?

There's quite a few of us who never got out of the recession to be a "since" of

[Quantess]

3. Nothing a little pep talk won't fix!

We just need to be "in the mood" to spend. Maybe some affirmations to boost consumer confidence, pats on the back, a few smiles from clerks. People are just "in a sour mood" and are lagging in confidence a bit. Don't worry, we sourpusses just need a hug.

[county worker]

4. Republican strategy is working