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Rasmussen: U.S. Consumer Confidence Hits Five-Month Low

Tuesday, 12 June 2012 01:20 PM

Consumer confidence is slipping in the U.S., a Rasmussen Reports survey shows.

The Rasmussen Consumer Index, which measures consumer confidence on a daily basis, fell three points on June 9 to its lowest level of the past five months.

"At 84.6, consumer confidence is down four points from a week ago, down five points from a month ago and down eight points from three months ago," Rasmussen reports.

Confidence has not been lower since February.

Investor confidence isn't faring much better.

"The Rasmussen Investor Index fell three points to 93.7. Investor confidence is down a point from a week ago, down four points from a month ago and down twelve points from three months ago," Rasmussen adds.

About a third of the respondents, or 33 percent, rate their own finances as good or excellent, while 41 percent say fair and 23 percent poor.

"On the day President Obama took office, 35 percent said their finances were in good or excellent shape. During the fall of 2008, just before Lehman Brothers collapsed, 43 percent were that upbeat about their own finances," Rasmussen adds.

Other indices are showing consumers are growing a little fearful over the future.

The Conference Board, an industry group, reports that its widely-watched index of consumer attitudes fell to 64.9 in May from a downwardly revised 68.7 in April.

"Consumers were less positive about current business and labor market conditions, and they were more pessimistic about the short-term outlook," Lynn Franco, Director of Economic Indicators at The Conference Board, says in a statement.

"However, consumers were more upbeat about their income prospects, which should help sustain spending. Taken together, the retreat in the Present Situation Index and softening in consumer expectations suggest that the pace of economic growth in the months ahead may moderate."

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Tuesday, 12 June 2012 01:20 PM
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