Consumer confidence has fallen to its lowest point in two years and most Americans now believe the recession that economists say was over in June 2009, has never ended, according to the Rasmussen Consumer Index.
The Rasmussen poll of 500 adults found that consumer confidence has fallen 4 points to 60.4 points since S&P’s downgrade last Friday of the U.S. government’s credit rating from AAA to AA+. That puts consumer confidence in the economy now just six points above the lowest level recorded since the Sept. 11, 2001, terrorist attacks.
“It’s important to note that confidence had fallen to a two-year low the day before the downgrade occurred, so the S&P action has served to reinforce the underlying trend rather than shift perceptions,” the polling analysis notes.
In its daily tracking poll, Rasmussen also found that a majority of Americans disagree with some economists who say the country is on a path to a double-dip recession.
Those surveyed insist the first recession that began in late 2007 has never really ended, despite claims to the contrary by the government and economists. In fact, the survey found that “a majority has believed that the country is in a recession every month from February 2008 until now.”
Meanwhile, the Rasmussen Investor Index found that investor confidence stabilized a bit after falling for three straight days. The index regained one-tenth of a point to settle at 64.8. That’s still down four points from a week ago and 12 points from a month ago.
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