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Article: Consumer confidence drops sharply on weak economic news, according to RBC Index.
- Article from:
- PR Newswire
- Article date:
- November 5, 2009
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NEW YORK, Nov. 5 /PRNewswire-FirstCall/ -- Consumer confidence fell across the board in the past month, according to the most recent results of the RBC CASH (Consumer Attitudes and Spending by Household) Index. The RBC Index for November 2009 stands at 30.2, down 21.6 points from October's 51.8 reading. Higher gas prices, slumping retail sales, volatile stock markets and continuing joblessness resulted in the sharpest one-month drop in consumer sentiment since last autumn's financial crisis.
"This month's RBC Index results show that American consumers are not yet convinced that their financial and employment situations are stable," said Ira Jersey, head of U.S. ...