“Surging gas prices, high food prices, disappearing jobs, declining home values, and record foreclosures were cited by consumers as the basis for their pessimism, and most consumers expected each of these problems to continue to worsen in the months ahead,” said Richard Curtin, who runs the survey for the university.
More consumers than ever before said their own finances had worsened, and the outlook for their real, or inflation-adjusted, incomes were the bleakest ever.
Nine of 10 said the economy was in recession. Two-thirds expect the slump to last several years.”
More consumers than ever before said their own finances had worsened, and the outlook for their real, or inflation-adjusted, incomes were the bleakest ever.
Nine of 10 said the economy was in recession. Two-thirds expect the slump to last several years.”
