Consumer Confidence Crashes

March 7, 2008 by Douglas A. McIntyre

One of the key measures of consumer confidence fell through the floor. The RBC Cash Index dropped to 33.1 in early March, down from 48.5 in February.

The figure was the worst since the survey began in 2002 according to the AP.

"The U.S. consumer is definitely in full defensive mode," said T.J. Marta, a fixed-income strategist at RBC Capital Markets.

Douglas A. McIntyre

Sponsored: Find a Qualified Financial Advisor

Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.