This just in from the NYT (full article here)
Americans are well-aware of their plight. Consumer confidence now stands at a 16-year low, according to a survey conducted by Reuters and the University of Michigan. The confidence index dropped to 70.8 in February, the lowest level since February 1992. Consumers also expect inflation to keep rising over the next year.
Businesses are also feeling the pain. A survey of activity at Chicago-area businesses plunged in February, according to the National Association of Purchasing Managers, falling to its lowest level since shortly after the Sept. 11, 2001, terrorist attacks. The group’s “business barometer” reached 44.5 in February after a 51.5 reading the month before. Employment and production levels fell sharply, as well.
I'm thinking about the implications of this economic environment to technology and venture investing. No major aha's yet....but I'm noodling.
