Perhaps because actions to ameliorate the jobs and housing situation have simply exacerbated them?US consumer confidence falls sharply
By Alan Rappeport in Washington
Published: February 23 2010 15:43 | Last updated: February 23 2010 16:00
Figures on Tuesday showed that consumer confidence in the US fell to the lowest level in 10 months on fears about a slow labour market recovery.
The Conference Board’s index of consumer sentiment fell to 46 in February from a revised 56.5 the prior month. Lynn Franco, director of the Conference Board’s consumer research centre, said that fewer consumers were expecting improvements in business conditions or the jobs market in the next six months.
The weaker than expected report likely reflects the grim political climate and volatility in the financial markets, argues Ted Wieseman, an economist at Morgan Stanley. More worrying, Mr Wieseman said, is that the weak jobs outlook could bode poorly for next week’s employment report.
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Tuesday, February 23, 2010
Consumers Not Confident
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