Consumer Comfort Crumbles

Biggest 1-week drop in history sinks levels near post-Katrina lows
By Colleen Barry,  Newser Staff
Posted Aug 22, 2007 1:50 AM CDT
Consumer Comfort Crumbles
Traders work on the floor of the New York Stock Exchange in New York on Tuesday, April 24, 2007.   (Associated Press)

Unrest in the financial markets and housing sector has consumers on edge, a new survey says. The Washington Post/ABC News "consumer comfort index" nosedived this week, displaying the biggest 1-week plunge in the poll's 22-year history, the newspaper reports. The current reading nearly matches the lows reached after Katrina struck 2 years ago.

The poll asks Americans their opinions of the national economy, their personal finances, and the general buying climate; all three indicators were down this week. Notably, homeowners haven't had so little faith in the financial world since November 2005, and only 32% surveyed rate the economy positively, compared to 44% a month ago. (More money stories.)

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