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September 26, 2005
Handwriting on the wall
Gallup released some interesting poll numbers today, which suggest that maybe I'm not being so alarmist after all.
September readings of investor and consumer sentiment are starting to come in and, as might have been expected, they've plunged. Not only that but evidently even the investors are saying that high fuel costs are causing them financial hardship.
The upshot? According to Gallup's Dennis Jacobe, "Post-Katrina investor pessimism suggests that holiday sales expectations, although less optimistic than in previous years, may still be too high. Rita probably means there will be additional downward revisions in holiday sales expectations in the not-too-distant future."
These next couple of months may turn out to be tough ones.
Posted by The Journal Blogger at September 26, 2005 07:37 PM
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