Friday, March 09, 2001

Consumer confidence takes a dive in Ohio

The Associated Press

        A majority of Ohioans contacted in a statewide survey showed a drop in consumer confidence in the economy, the Ohio Poll reported Thursday.

        For the first time since October 1993, the poll — conducted by the University of Cincinnati's Institute for Policy Research — found that Ohioans were more likely to see bad times than good times ahead for U.S. businesses. Forty percent said U.S. businesses will experience bad times during the next year, 35 percent see good times ahead and 25 percent expected a mix of good and bad conditions.

        A similar Ohio Poll survey on the topic in June 2000 found 54 percent expected good times ahead for businesses, while 28 percent anticipated bad conditions.

        Fifty-six percent of those surveyed said now is a good time to make a major household purchase, such as furniture, a refrigerator or TV; 31 percent said it is a bad time; and 13 percent had no opinion.

        The percentage who said now is a good time for a household purchase reached its lowest point since an October 1992 survey.

        The latest poll was done from Feb. 13 through Feb. 25. It was a random telephone survey of 811 adult Ohioans statewide. The error margin was plus or minus 3 percentage points.


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