"the Rasmussen Consumer Index shows consumer confidence gaining a point on Tuesday morning. On the day after the economic “rescue” package failed in the House of Representatives and the stock market fell 800 points, the Index shows that consumer confidence rose for the third straight day to 70.4--the highest level of the past week. "
Rasmussen Consumer Index
After Wall Street Falls Nearly 800 Points, Consumer Confidence RISES
Tuesday, September 30, 2008
Highlighting the gap between Main Street and Wall Street, the Rasmussen Consumer Index shows consumer confidence gaining a point on Tuesday morning. On the day after the economic “rescue” package failed in the House of Representatives and the stock market fell 800 points, the Index shows that consumer confidence rose for the third straight day to 70.4--the highest level of the past week. Still, just 6% of Americans now believe the economy is getting better while 80% say it is getting worse. The Rasmussen Consumer Index remains just four points above the all-time low established in June.
The Rasmussen Investor Index lost a point on Tuesday to 75.4. That relatively mild response to yesterday’s news keeps the Index slightly above the all-time low of 75.1 established just five days ago. Over the past five days, investor confidence has stayed in a very narrow range from 75.1 to 77.0. The Investor Index is down seven points from a week ago, down seventeen points from two weeks ago, and down twenty-seven points from the first Tuesday in September.
As Congress prepares to vote on a proposed economic rescue plan, opposition to the measure has declined significantly. A Rasmussen Reports national telephone survey conducted this week found that 33% of Likely Voters now favor the plan while 32% are opposed and 35% are not sure.
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The Rasmussen Consumer Index and Investor Index are derived from nightly telephone surveys of 500 adults and reported on a three-day rolling average basis. The baseline for the Index was established at 100.0 in October 2001. Readings above 100.0 indicate that confidence is higher than in the baseline month. Detailed supplemental information is available for Premium Members. Historical data for the Consumer and Investor indexes as well as attitudes about the economy and personal finances are also available to Premium Members.
The Rasmussen Consumer Index reached its highest level ever at 127.0 on January 6, 2004. The all-time low was reached on June 10, 2008 at 66.2.
The Rasmussen Investor Index reached its highest level ever at 150.9 on January 7, 2004. The lowest level ever measured was 77.6 on July 9, 2008.
The current Index data is from a national telephone survey of 1,500 adults conducted by Rasmussen Reports over the past three nights. The margin of sampling error for each individual question in the survey is +/- 2.6 percentage points, with a 95% level of confidence. This survey is part of a larger series of data used to compile the Rasmussen Index on a daily basis.
Rasmussen Reports is an electronic publishing firm specializing in the collection, publication, and distribution of public opinion polling information.
The Rasmussen Reports ElectionEdge™ Premium Service for Election 2008 offers the most comprehensive public opinion coverage ever provided for a Presidential election.
Scott Rasmussen, president of Rasmussen Reports, has been an independent pollster for more than a decade.