Can you beat 50% per month? Message Board

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Strategies & Market Trends : Can you beat 50% per month?

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To: Smiling Bob who wrote (4643)	10/29/2002 10:09:58 AM
From: Smiling Bob	Read Replies (2) of 19256

This will be the worst holiday shopping season in 20+ years Double dip begins shortly after See bold: Consumer confidence hits 9-year low By Rex Nutting, CBS.MarketWatch.com Last Update: 10:00 AM ET Oct. 29, 2002 The Conference Board consumer confidence index dropped to 79.4 in October from 93.7 in September, matching the decline already reported in the University of Michigan's survey. Consumer expectations dropped to 80.7 in October from 97.2 in September. Consumers' assessment of current conditions in October sank to 77.5 in October from 88.5 in September. Economists we surveyed were expecting a decline to 90.1, but some analysts warned of a much steeper decline, based on the University of Michigan survey and the tight correlation between the index and the stock market's performance. "A weak labor market, the threat of military action in Iraq and a prolonged decline in the financial markets have clearly dampened both consumers' confidence and their expectations for the near future," said Lynn Franco, head of the board's consumer research center. "The outlook for the holiday retail season is now fairly bleak," she said. "An already weak economic recovery could weaken further." The percentage of consumers who said conditions are "bad" rose to 27.6 percent from 23.8 percent, while those saying conditions were "good" fell to 15.6 percent from 18.5 percent. Consumers think jobs are hard to find now and will be hard to find in six months. Rex Nutting is Washington bureau chief of CBS.MarketWatch.com.

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