NEW YORK (CNN/Money) -
Call me kooky but I'm wondering if I'm not the only feeling that the economy -- or at least the people in it -- is a bit contradictory lately.
The ABC/Money Consumer Comfort Index edged down to -20 on its scale of +100 to -100 last week and is just off the 2004 lows of the year. Okay, I know it's just another one of these consumer confidence indexes that leave us all wondering if we should pay attention or not. But there it is.
Meanwhile, the economic reports from the government and the head of the Federal Reserve, Mr. Alan Greenspan himself, tell us that the jobs are growing and we are definitely set for some nice upward momentum.
I know there's a lag between actual economic changes and perceptions of them. I know that people often say one thing, like: "I don't feel so great about this economy but I'm going to keep shopping anyway."
But it's also true that there are still lots of long-term unemployed and that wages are growing, on average, sluggishly. So maybe that's why we still hear people saying things don't look so hot, even when many economists say the economy's lookin' pretty cool.
Kathleen Hays anchors CNN Money Morning and The FlipSide, airing Monday to Friday on CNNfn. As part of CNN's Business News team, she also contributes to Lou Dobbs Tonight.
|