The latest consumer confidence index and a slew of retailers'recent quarterly reports provide evidence that the consumer hasdecided. Recession or not, they are feeling the pinch.

"The Consumer Confidence Index continues losing ground and, withthe exception of the Iraqi War in 2003, is now at its lowest levelin nearly fifteen years," says Lynn Franco, director of theConference Board Consumer Research Center. "The weakening inconsumers' assessment of current conditions, fueled by acombination of less favorable business conditions and a sharp risein the number of consumers saying jobs are hard to get, suggeststhat the pace of growth in early 2008 has slowed even further,"Franco adds.

"Consumers' expectations have also deteriorated significantlyand are now at a seventeen-year low. With so few consumersexpecting conditions to turn around in the months ahead, theoutlook for the economy continues to worsen."