U.S. consumer confidence fell to its lowest in four months in August on worries over high unemployment and dismal personal finances, though the mood managed to improve from earlier this month, a survey showed on Friday.
The Reuters/University of Michigan Surveys of Consumers said its final index of confidence for August fell to 65.7 from 66.0 in July. That was the lowest since 65.1 in April but above economists' expectations for 64.5 and also higher than this month's preliminary reading of 63.2
"Confidence rebounded in late August as consumers increasingly expected improved conditions in the national economy even as they reported the worst assessments of their finances since the surveys began in 1946," the report said.
Source: St. Louis Fed
jake - check your e-mail when you get a chance. sent you some chartpics on yoy stuff for DG, IndProd, GDP, etc.
ReplyDeleteI know after this long drawn recession for a couple of years, after seeing the worst in business, any small drizzle of good news is sure to make you rejoice, but the rains are still far away.
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