Consumer confidence survey hits all-time low

U.S. consumer confidence about the future remains maudlin, even as attitudes about the present economy and investments show signs of stabilizing, according to the RBC CASH (Consumer Attitudes and Spending by Household) Index published Friday.

The overall RBC CASH Index dropped to an all-time low since its inception in 2002 to 29.5 in April, compared with 33.1 in March.

"The across the board downturn in the survey results indicates a potential retrenchment by consumers and corroborates suspicions that the economy has slipped into a recession," said T.J. Marta, economic and fixed income strategist for RBC Capital Markets. "Each index fell to a record low in April with the exception of the Jobs Index, which was less than one point above its worst level registered in 2003, when the economy was showing signs of stalling in its recovery from the 2001 recession."

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April's findings are based on a sample of 1,005 U.S. adults polled by survey-based research company Ipsos Public Affairs. The margin of error was 3.1 percent.

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