You’re Not a Confident Consumer

July 2, 2009 11:48 AM | Comments (0) | Posted in weekly retail report, shopping tips, consumer confidence

What: A new report has come out that suggests shoppers aren’t as optimistic about the economy as originally hoped. While consumer confidence was steadily going up in March, April, and May, it’s now dropped again. This surprised all the forecasters out there, and has everyone worrying that retail sales will take another beating for the remainder of the summer.

What They Say:

Lynn Franco, director of The Conference Board Consumer Research Center, said in a statement that the decline in consumers’ current view — caused by a less favorable assessment of business conditions and employment — “continues to imply that economic conditions, while not as weak as earlier this year, are nonetheless weak.”

What We Say: What happened? Luxury brands were getting snobby again, budget chains were doing fabulous, and it seemed like we were forgetting about that whole economy thing. Apparently that is not the case, as more and more of us face the harsh reality of an economy in recession.

Do you feel more or less confident about your pocketbook than a few months ago?

Photo from Newton Free Library