Tuesday, September 8, 2009

Americans Worried about their Financial Situation

posted by John Smith

Americans feel far worse about their financial situation than they have in the past seven months and continue to be pounded by financial woes driven by increased credit card, health-care and personal loan issues, according to the Consumer Reports Index September ’09 Report.

The CR Sentiment Index is at 38.1, the lowest level since October 2008. The nonprofit organization also noted that the CR Trouble Tracker continues to increase to its highest level in the past seven months with almost 38 percent of Americans experiencing at least one major negative personal finance event in the past month.

While consumers continue to be distressed about their personal financial situation, there are indications their outlook may have stabilized. The CR Retail Index remained stable from the previous month, while interest in shopping for large-ticket items like a new home, and new and used cars looks strong for the month of September.

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