The economic news yesterday was not good. Consumer confidence is down. Meanwhile, wholesale inflation soared, just not like Superman in this case.
The New York-based Confidence Board reported Tuesday that its Consumer Confidence Index sank to 75.0 in February from 87.3 in January. It’s the lowest level since February 2003 when it hit 64.8. Analysts had expected the latest reading to hit about 83.0.
The Consumer Confidence Index measures how consumers feel about the economy, which in this case is not very good.
How could this affect the golf market in 2008? Rounds were down about a half percent in 2007. The economic experts say consumers shut their wallets when their confidence is down. Does that mean they’ll play less golf?
What are your thoughts?
— Larry Aylward