Categorized | Etcetera

CONSUMER CONFIDENCE TAKES A SWAN DIVE…

Posted on 24 February 2010

Americans’ confidence in the economy has suffered a sudden relapse, dimming hopes that they will start spending-and spurring job growth-any time soon. The consumer confidence index figures released Tuesday were much worse than analysts had expected and showed that Americans are morose about the job market and their economic prospects. The index fell almost 11 points to 46 in February, down from a revised 56.5 in January and the lowest level since a 40.8 reading in April 2009. It erased three consecutive months of improvement, according to the Conference Board, which releases the index. Economists were expecting a slight decrease to 55. The index is based on a sample of 5,000 U.S. households

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