Job, Chimpy!

U.S. consumer confidence fell to its lowest in more than a quarter century in early April, diving deeper into recessionary territory on heightened worries over inflation and jobs, a survey showed on Friday.

The Reuters/University of Michigan Surveys of Consumers said its preliminary index of confidence fell to 63.2 in April from 69.5 in March, well below economists’ median expectation of a slight fall to 69.0, according to a Reuters poll.

The April result is the lowest since March 1982’s level of 62.0, when the “stagflationary” period of low growth and high inflation was still fresh in the memory of many Americans.

Near-term inflation expectations measured by the survey jumped to the highest since the turmoil following Iraq’s invasion of Kuwait in late 1990, which caused oil prices to rise sharply.

2 thoughts on “Heckuva

  1. …if it’s ponies for Chimpy’s plummeting approval ratings, maybe there needs to be something collectible for collapsing consumer confidence. Maybe something like prairie dogs;they’re cute, the ‘burrowing deeper and deeper’ metaphor fits, and the ferrets will have something new to play with…

  2. stagflation. say it. SAT IT.
    well amerikkka, aren’t you glad the gays aren’t able to marry. oh wait. they can in places.

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