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Consumer Confidence Crashes 46% in Last Two Years
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Full monthly results for the Rasmussen Consumer Index in November shows the economic confidence of American consumers has fallen to another all-time low at 64.5. That’s down nearly five points from the previous all-time low set just last month and is the sixth record low set in the last nine months.

The economic confidence of consumers has fallen 46% since January 2007. At that time, the Consumer Index was at 118.8 -- 54 points above the current level.

Among other changes of note:

-- In January 2007, just 27% of Americans thought the economy was in a recession. Today, 71% believe the recession has already begun.

-- In January 2007, 38% said the economy was in good or excellent shape while just 23% rated it as poor. Today, only eight percent (8%) give the economy good or excellent marks, and 64% say it's poor.

-- When 2007 began, consumers were fairly evenly divided about whether their finances were getting better (36%) or worse (39%). Today, just 17% say their finances are getting better while 55% say the opposite.

-- In January 2007, 78% of investors said their investments had made money over the previous year. Now, 81% say they have lost money on their investments over the past year.

Confidence has fallen by 46% among both men and women. It has fallen by more than 50% among those over 50 but just 33% among those under 30.

The fall in confidence among investors has been even more dramatic.

The Rasmussen Investor Index was at 142.1 in January 2007. It fell 73 points, more than 50%, to 69.0 in November 2008. These realities have changed investor attitudes dramatically.

In January 2007, 41% would have placed new investment money in real estate, 30% in the stock market, and only 12% in a savings account. Today, 30% would put the money in a savings account, 30% in real estate, and just 21% in the stock market.

The Rasmussen Consumer and Investor Indexes are updated daily.

(Want a free daily e-mail update? Sign up now. If it's in the news, it's in our polls).

Other measures of economic confidence have shown similar trends over the past two years. The Rasmussen Employment Index fell 16 points in October to set a record low. That Index will be updated for November on Tuesday morning, December 2.

The Discover Small Business Watch also fell to a record low last month. The Discover Consumer Spending Monitor shows that most Americans intend to cut back further on discretionary spending.

Rasmussen Reports is an electronic publishing firm specializing in the collection, publication, and distribution of public opinion polling information.

The Rasmussen Reports Election Edge™ Premium Service offers the most comprehensive public opinion coverage available anywhere.

Scott Rasmussen, president of Rasmussen Reports, has been an independent pollster for more than a decade.