Tuesday, June 3, 2008

ABC consumer confidence advances for the first time in three month

Consumer confidence advanced for the first time in three months in an unusual one-week gain in the week to June1, lifting from its all-time low in 22 years of weekly polls. The ABC News Consumer Comfort Index moved up 6 points to -45 on its scale of +100 to -100; it’s increased by 6 or more points only eight times before.

But it’s still dreadful:

Last week the CCI set a record low, -51, and it’s been at -45 or lower for five weeks straight.

Improvement in the buying climate from neg. 62 to neg. 54, related to the government's rebate checks, is behind this slight advance in consumer confidence.

See the complete results, tables here.

click to enlarge historic chart

source: Confidence Backs Off Historic Low

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