KEY ECONOMIC METRIC SLIPPING AGAIN …
After enjoying an appreciable climb over the last few weeks, consumer comfort in America is now firmly on the downswing … a terrible omen as the U.S. economy is just weeks away from a critical holiday shopping season.
Bloomberg’s Consumer Comfort Index (CCI) – which measures consumer comfort on a scale of zero to 100 – currently stands at 41.1. That’s a 4.1-point drop from its mid-October peak, and a 6.8-point drop from its post-recession peak in April of this year.
Yeah … ouch.
The trend lines look terrible, too …
(Click to enlarge)
(Chart via Bloomberg)
“It’s been a decidedly up-and-down year for consumer sentiment, marking the difficult-to-define condition of the economy overall,” noted the number crunchers at Langer Research Associates, which compiles the data (.pdf here).
Putting additional fear in the hearts of retailers? The CCI’s buying climate subindex, which dipped to its lowest level since mid-September.
Compiled weekly since December 1985, the CCI is based on 1,000 national random-sample landline and cellular telephone interviews, 250 per week (in a four-week rolling average). Its record high of 69 was reached on January 16, 2000. Its record low of 23 has been reached on four separate occasions – most recently June 21, 2009.
Where will it go in 2016? Who knows … but 2015 clearly hasn’t been the “rainbows and unicorns” year we were all told to expect.
10 comments
In RETREAT????…Only you and the rest of the Ignorant Democrats buy into the stupid-ass idea that there is COMFORT to retreat from…
Why is it that it’s been BAD news since late 2008, and you act like the most-surprised Motherfucker on earth on the rare occasions it’s reported..
Are you THAT fucking stupid?…No need to answer…
St. John’s Place community meeting, tonight. Be there to explain yourself or we will be forced to take action.
Hey idiot, the bad news started when in 2006, not 2008, when the Democrats took over the House. You are just another ignorant Democrat who thinks it was rosy before 2008. Everybody knows we were heading straight to hell after the 2006 mid-terms. Are you that fucking stupid?…No need to answer.
Moron. Tell it to Chrysler, Ford and GM – sales up 16% – idiot. You’re so disconnected from reality we’re gonna start calling you Dreamer.
Get your subpeana yet from Kenny’s attorneys?
5.1% unemployment, GM and Chrysler and Ford just reported sales up 16% over last year, everyone getting ready for the best Christmas Season on record. You really are an ignorant dumb@$$ aren’t you. How’s life in Crapville? Heck, even Wal Mart shoppers are happy.
No they’re just fat, and everybody knows fat people are happy people.
But it’s almost Black Friday… you know the day the black people stampede Walmart to get that $40 laptop that is not sold any other day but that day.
If this trend continues, the economy my be faced with the quickly deteriorating state of ObamaCare, and that will certainly exacerbate the current economic problems. Problems with some of the healthcare exchanges is a precursor to to that impending problem.
Then there is the problem with unemployment, when CNBC says the real unemployment rate is 10.8 percent, you have to pay attention. Evidently, even some in the liberal media outlets have grown tired of being a shill for the Obama administration.
Hope it improves, but the signs are not looking good.