U.S. Economy: Sentiment Weakens More Than Anticipated

[AlphaCentauri]

Source: Bloomber

April 25 (Bloomberg) -- U.S. consumer confidence fell more than forecast in April to a 26-year low as record fuel prices and rising unemployment threatened to reduce spending.

The Reuters/University of Michigan sentiment index decreased to 62.6, from 69.5 the previous month. The measure was down from a preliminary estimate of 63.2 issued on April 11.

Consumers are growing increasingly anxious because the economy has lost almost a quarter million jobs so far this year, gasoline is up 17 percent and property values have fallen. Sales of houses and cars have declined as a result, contributing to a slowdown that may bring an end to the six-year expansion.

``Consumers are feeling the pinch, not only from the labor market, but also from prices,'' Aaron Smith, an economist at Moody's Economy.com in West Chester, Pennsylvania, said in a Bloomberg Television interview. ``There's a squeeze on incomes from two sides.''



Read more: http://www.bloomberg.com/apps/news?pid=20601087&sid=aWR0yVu.0d6g&refer=home

[Hydra]

1. The falls and increases have been sharp

The confidence and workable funds decrease, while the inflation and debt increase. Is it a depression yet?

[Michigan-Arizona]

4. Depression?

Of course not silly, Bush told us the other day no recession just a little slow, lol. I believe him don't you, sarcasm of course.

[Stuart G]

5. Perhaps a depression....... I also heard Bush say...

it is just a slowdown. And your rebate check will help start the economy again. Maybe a few tanks of gas, and perhaps some electric bills too. Oh, got to pay off the heating bill..
.......oops......no more rebate check. real stimulus. assholes.

[Vincardog]

2. The radical Reich has been squeezing the middle class for 30 years. When did they think we would run

dry? Oh I remember they still want our blood for their illegal occupation.

[Phred42]

3. As soon as We all bow to Their total control of course