Tuesday, July 28, 2009

Consumer Not So Confident

Washington Post details:

The Conference Board Consumer Confidence Index reported 46 percent of consumers called current business conditions in July "bad," a 1 percent increase from the month before. Consumers who reported jobs are "hard to get" jumped to 48 percent, an increase of about 3 percent from June.

"Consumer confidence, which had rebounded strongly in late spring, has faded in the last two months," said Lynn Franco, director of the Conference Board Consumer Research Center, in a news release. "The decline in the Present Situation Index was caused primarily by a worsening job market, as the percent of consumers claiming jobs are hard to get rose sharply."

Source: Conference Board

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