U.S. Consumer Confidence Drops Consumer confidence in the U.S. fell five index points to 78, two points lower than the previous consumer confidence low of 80 points in the first half of 2009 at the height of the global recession. Canada’s consumer confidence index holds steady at 101, dropping just one point from year ago and previous quarter findings. “With rapidly rising gas prices, inflationary pressures at check-out, continued woes in the housing market with home foreclosures and declining property values, unsettling weather patterns creating flooding and tornado damage and a stagnant job market, confidence among U.S. consumers fell in the second
quarter,” said Todd Hale, SVP Consumer & Shopper Insights, Nielsen U.S. “On the U.S. retail front, the top 20 percent of households have exited the recession, while all other households are showing continued restraint in shopping trips and spending,” continued Hale. “Consumer-packaged-goods dollar sales were off 0.4 percent for the 52-weeks ending June 11, 2011, while dollar sales for the latest quarter within that 52-week period were up 0.5 percent – the second consecutive quarter of at least modest growth.”
Copyright © 2011 The Nielsen Company.
Published on Aug 4, 2011