Consumer Confidence Drops To Record Low In January
Source: http://feeds.feedburner.com/~r/StocksOptionsBlog/~3/524524644/Posted on Tuesday, January 27th, 2009 | In Stocks to Watch
Contributed by: Daniel Shepard (http://www.navivest.com/blog) -
Tuesday January 27, 2009
Navivest
The conference board to released its Consumer Confidence report for January 2009 and to no one’s surprise, the number kept falling month over month, hitting an all time record low of 37.7.
In January 2008, the reading was 87.3. Economist had been forecasting that the number would come in at 39.0.
With things seemingly going from bad to worse, it can be expected that we will continue to see a drop in the consumer confidence numbers.
Yesterday, corporate America announced over 45,000 job cuts and we are already getting more of the same today, with Corning (GLW) this morning, announcing that it will be cutting its payroll by up to 3,500 employees, as well as eliminating more than 1,500 temporary workers.
Last 5 posts by Daniel Shepard
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 About Daniel Shepard (http://www.navivest.com/blog)
Daniel Shepard is an Equity Analyst with Navivest, a stocks and options trading advisory services company that provides trading ideas on a subscription basis. |
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