RBC Consumer Expectations Index Declines in July

New York, NY, July 16, 2009--Consumers are expecting less of the U.S. economy in the near term, according to the most recent results of the RBC CASH (Consumer Attitudes and Spending by Household) Index.

The index show a marked downward shift for July, continuing the slide begun in June. The July index stands at 22.4, an 11.9 point decline from June's 34.3 reading.

"The RBC CASH Index for July confirms what we first saw last month: consumers are getting realistic. They're coming to grips with the idea that we will not see a quick economic turnaround but instead face a lengthy, drawn-out recovery," said RBC Capital Markets Managing Director Larry Miller.

"Consumer confidence is resetting to the levels seen earlier this year and is likely to remain there until there is concrete evidence of a turnaround."

The RBC CASH Index is a monthly national survey of consumer attitudes on the current and future state of local economies, personal finance situations, savings and confidence to make large investments.

The index is composed of four sub-indices: Current Conditions Index; Expectations Index; Investment Index; and, Jobs Index.