Consumer Confidence Down, Gibline Up

There is more bad news about the U-S economy this week. Consumer confidence sank to a five-year low in March as tight credit markets, rising prices and worsening job prospects deepened worries that the economy has fallen into recession.

The Consumer Confidence Index plunged to 64.5 in March from a revised 76.4 in February. The March reading was far below the 73.0 expected by analysts surveyed by Thomson/IFR.

Meanwhile, a widely watched index of U.S. home prices fell 11.4 percent in January, its steepest drop since data for the indicator was first collected in 1987. The decline means prices have been growing more slowly or even dropping for 19 straight months now.

Economist Bernard Baumohl, executive director of The Economic Outlook Group in Princeton Junction, N.J., said consumers' pessimism "reflects the great anxiety that households have because there are just so many uncertainties that everyone faces."

While this sounds negative to many observers, Gibline members can take heart. This is the perfect opportunity to grow their business on the Internet. gibLink.com is the new “Heartbeat Central” for small and home-based businesses and entrepreneurs. This is the place to make connections that count, to start or grow a small business into profitability, and to find advice and insight on small business problems.

Small businesses are the backbone of the American economy. Small businesses make up 99 percent of all employer firms and provide about nearly half of payrolls. We take heart in those numbers here at gibLink.com because we believe that this is where the strength is. Our small and home-based business owners are the very folks that are going to pull us through the recession.

You can be part of that, too. With most consumers worried about recession and saying the economy is the number one issue on their minds, many will be looking for ways to stabilize their own finances. This is an opportunity to help them set up small businesses. This is an opportunity to provide them with online websites and advertising for businesses that already exist. These are opportunities for Gibline members to be part of the solution.

It’s going to be tough going through these hard economic times, but together we can survive and thrive. The Consumer Confidence Index survey also showed that growing numbers of consumers expect things will get worse before they get better. Whether the economy worsens or improves is beyond most Americans control, but what can improve is the outlook for our businesses, our homes, and our lives. And Giblinecan help smooth that road ahead to an eventual brighter path.

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