Will the Stock Market Cause Consumer Confidence To Nosedive?
February 28, 2007

Americans were more confident in the U.S. economy in February than at any time since August 2001, the New York-based Conference Board reported yesterday.

The Index of Consumer Confidence index, a key indicator watched by the auto industry, showed a rise in February from January, indicating the consumer’s view of current conditions increased strongly and their expectations for the future edged up slightly. The board said the trend suggests the economy is robust and might even be gaining some momentum.

Tell that to Wall Street. The Consumer Confidence report was released just before the stock market tumbled, with the Dow Jones Industrial Average falling 416 points, its largest one-day drop since 9/11. Investors apparently see the world’s economic future as shaky.

Wonder what the Consumer Confidence Index will show next month?

Posted by Michelle Krebs at 6:56 AM under Business | Comments (0) | digg this | Seed Newsvine