Things don’t look so good in the States right now.

American consumers are continuing to lose confidence as falling housing values, a potentially weak labour market and rising foreclosures, coupled with prices for oil exceeding $100 a barrel, set the stage for rather bleak economic conditions. The optimism of the future, according to the results of the RBC CASH (Consumer Attitudes and Spending by Household) Index, has fallen from 48.5 in February to 33.1 this month. On top of that, expectations for six months’ time aren’t too hot either, with a third believing that the local economy will be weaker than it is now.

And what about the stock market? 67% think that it would be safer to stay away from investing in the stock market for the next few weeks.

The study was conducted from March 3-5 on 1,013 American adults.

Our housing market and economic conditions are fortunately in better shape.

This entry was posted on Wednesday, March 12th, 2008 at 10:02 am and is filed under Current Conditions. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.