Confidence at all-time low, says survey

In another sign of a weakening economy, consumer confidence fell to an all-time low this month. The RBC CASH Index, fell to 56.3 for January, down from a reading of 69.5 in December, marking the worst showing since the index was first compiled in 2002. The Expectations Index, which measures consumers' economic outlook, fell to a reading of -8.2 in January, compared to 7.9 in December. The Current Conditions Index slid to a reading of 78.9, from an 85.3 figure in December, spurred by worries about the current state of the economy. The Investment Index, which measures consumers' views of the investment climate, fell more than three points to 76.3 this month, compared to 79.7 in December. The Jobs Index, which measures Americans' perception of their job security, slipped slightly to a reading of 106.9, compared to 113.9 in December. "This number is much more alarming than the downturns that we saw for the Iraq war or Hurricane Katrina," said T.J. Marta, U.S. fixed income and economics strategist at RBC. "The trajectory of the economy looks horrible right now." The index was compiled from a survey of 1,027 Americans polled between Jan. 7 and Jan. 9.