Those in the media looking for bad news today have been given another gift – The Conference Board’s release of their May Consumer Confidence Index.  The index is down for the fifth month in a row to a 16 year low point (October, 1992);  the Present Situation Index and Expectations Index are both down also – who’s surprised. 

Here’s the money quote from the press release today provided by Lynn Franco, Director of The Conference Board Consumer Research Center –

“The Consumer Confidence Index now stands at a 16-year low (Oct. 1992, 54.6). Weakening business and job conditions coupled with growing pessimism about the short-term future have further depleted consumers’ confidence in the overall state of the economy. Consumers’ inflation expectations, fueled by increasing prices at the pump, are now at an all-time high and are likely to rise further in the months ahead. As for the short-term outlook, the Expectations Index suggests little likelihood of a turnaround in the immediate months ahead.”

This data is based upon a survey of only 5000 households around the country; don’t you feel things look better than this?  We do, but that indeed may be a function of our friends and work group.  There’s a danger in letting the opinion and thinking of the masses determine your course.

The better part of one’s life consists of his friendships.  – Abraham Lincoln

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