
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: WEDNESDAY, September 1, 1993                   TAG: 9309010030
SECTION: BUSINESS                    PAGE: B-7   EDITION: METRO 
SOURCE: Associated Press
DATELINE:                                 LENGTH: Short

CONSUMING MOOD'S STILL DRAGGING

The nation's consumers are still in low spirits, according to the Conference Board, which reported Tuesday that its consumer confidence index was nearly unchanged in August from July and from August 1992.

"Since the beginning of this year, the measure of confidence has dropped a disconcerting 19 points," the New York business research organization said.

The index stood last month at 59 points, down from 59.2 in July and unchanged from a year earlier. It is off from its 13-month peak of 78.7 points in January.

In the South Atlantic region, which includes Virginia, the index was 70 points in August, up from 68.7 in July but down from 71.2 points in August 1992.

The index is based on a survey that samples 5,000 U.S. households about their level of confidence in the economy and their purchasing plans.

"The current level of consumer confidence is historically associated with a weak economy," said Fabian Linden, executive director of the Conference Board's Consumer Research Center.

"Consumers are in no better spirits now than they were last year at this time. There is faint hope in the recent consumer-confidence readings that a significant acceleration in the nation's economic growth rate is imminent."

Factors contributing to the pessimism include fewer available jobs and that jobs are harder to get. There also is fear that business conditions will worsen in coming months.

However, buying intentions improved in August, the report said. Plans to buy cars, homes and major appliances increased.

by CNB