Two Points from its Low, Confidence Looks Like '92

Two points from its low in 22 years of weekly polls, consumer confidence has been here before – just in advance of the economy-driven election of 1992. Uninspired by a six-week drop in gasoline prices, the ABC News Consumer Confidence Index stands at -49 on its scale of +100 to -100. Its worst on record was -51 in late May, and it last saw these levels in the hangover from the 1990-91 recession. A week before the 1992 election, when economic discontent cost George H.W. Bush his job, it was... Full Story