Consumer Confidence Sinks To Another New Low

By: Associated Press Email
By: Associated Press Email

Washington (AP) The steady drum beat of job losses, home foreclosures and rising energy prices has pushed consumer confidence to a new low.

According to the RBC cash index, confidence in early April dropped to a level of 29-and-a-half against a benchmark reading of 100. It's down from 33 in march.

It's the lowest confidence mark since the index began in 2002 and marks the fourth month in a row that consumer confidence hit a new low.

Worsening problems with housing and credit, plu the financial turmoil on Wall Street and sky-high fuel prices have put people in a gloomy mind-set.

Last April, confidence stood at 85, based on results from the international polling firm IPSOS.

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