US consumer confidence tumbles in September as American anxiety about the future grows

[BabyBoomer50s]

“Most troubling was the decline in the index measuring future expectations, which tumbled to 73.7 in September from 83.3 in August. Readings below 80 for future expectations historically signal a recession within a year.”

https://apnews.com/article/consumer...my-inflation-67bf8bcf0542bc077e878012efcac637

 

[Veroe]

There's been a lot of signs and portents of a looming recession for the past couple of years and it hasn't happened yet. That said...as signs and portents go this is indeed an ominous one.

 

[ll74]

The last few years haven't reflected historical record.

 

[Veroe]

True, we've had some atypical years of late.

 

[Bigboobbabe]

And with the over use of "new normal" are they really atypical. LOL

I am thankful every day that I am still young enough to recover from a huge hit. But that window is declining like my investments. A slow, painful bleed.

 

[BabyBoomer50s]

Consumer confidence isn’t always a reflection of traditional metrics like GDP and unemployment. I suspect that housing prices, rents, gas prices, food prices, mortgage rates, auto loan rates, credit card rates are mostly what’s driving consumer sentiment.

 

[Sean Renaud]

I think its hard to fathom we aren't going to have a recession soon it probably won't be that long, it might not even fit the technical definition of a recession but three simultaneous strikes and a pretty much locked in place government shut down can't be good short term.

 

[Veroe]

They will be blows to the economy. No doubt about that, but we'll see whether the shutdown in particular is a critical hit to it or not.

 

[Sean Renaud]

I don't think its a critical hit, I think all three at once though I expect the writers are done and the actors won't be too far behind. But all at once it will be hard for a recession to be avoided IMO. I should qualify this for the moment with the fact that the economy in many ways is just a matter of people having faith.