U.S. consumer confidence fell to a new low, as measured by RBC Cash Index, which started in 2002. The index hit 33.1 in March, from 48.5 in February. “The U.S. consumer is definitely in full defensive mode,” said analyst T.J. Marta RBC Capital Markets. (AP in Yahoo! Finance) The Federal Reserve reported yesterday that with falling home values, increasing debt, and inflation, the net worth of U.S. households fell in 2007. (MarketWatch)
The bottom line
March 7, 2008
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