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Franco: Lynn Franco
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"Latest signals from consumers are in keeping with a continuing mixed bag of economic news," says Lynn Franco, Director of The Conference Board's Consumer Research Center. "But the major factor dampening consumers' spirits has been the rising unemployment rate and the discouraging job outlook. Weak retail sales over the holidays clearly reflect the current mood of consumers. Until there is an improvement in labor market conditions, there is not likely to be a significant upturn in consumer confidence."
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"CEOs' confidence in the state of the U.S. economy continues to wither and is now at a seven-year low," says Lynn Franco, Director of The Conference Board Consumer Research Center. "Given continued trouble in the housing and credit markets, persistent volatility in financial markets and increases in energy prices, it's not surprising that confidence has eroded. Looking ahead, the majority of business leaders expect these lackluster economic conditions to prevail throughout the first half of 2008."
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"Despite the rather bleak assessment of current conditions, CEOs are not as pessimistic in their short-term outlook," says Lynn Franco, Director of The Conference Board Consumer Research Center. "But although the outlook is somewhat brighter than last quarter, the pace of growth is likely to remain moderate in the months ahead."
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Lynn Franco