As the price of necessities such as gasoline has continued to climb, the economic mood of consumers remains negative. This was illustrated most recently by the Conference Board’s Consumer Confidence Index, which declined yet again to 50.4 points in June following its drop from 62.8 points in April to 58.1 points in May. It marks an overall decline of more than 52 percent from the 105.3 points reported in June of 2007.
Likewise, the Discover US Spending Monitor – which tracks spending intentions and economic confidence with a monthly survey of 15,000 consumers nationwide – remained weak. Though rising 1.4 points in May, this increase was attributed mainly to consumer expectations of increased spending on household expenses in the coming month, in particular on food and fuel.
The Discover Monitor has seen an overall decline of more than 13 percent from its commencement in May of 2007.
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