War, Gas Prices Shake Consumer Confidence

The declining confidence has affected consumers’ spending psyche.

• 40.3 percent in June indicated that they’ve become more practical in their purchases, up from 36.7 percent last month and 39.9 percent in June ’06;

• Almost half (47 percent) are prioritizing spending based on needs, up from 44.8 percent in May, but below last June’s 49.8 percent.