Consumer Confidence Plummets in August

[papau]

http://story.news.yahoo.com/news?tmpl=story&ncid=716&e=6&u=/ap/20040831/ap_on_bi_ge/economy

Consumer Confidence Plummets in August

By ANNE D'INNOCENZIO, AP Business Writer

NEW YORK - Consumer confidence, which had been on the rise since April, declined unexpectedly sharply in August, a private research group said Tuesday.

The Consumer Confidence Index (news - web sites) dropped 7.5 points to 98.2 from a revised reading of 105.7 in July, according to a report from The Conference Board (news - web sites). The reading was much lower than the 103.5 that analysts had expected.


"The slowdown in job growth has curbed consumers' confidence," said Lynn Franco, director of The Conference Board's Consumer Research Center, in a statement. "The level of consumer optimism has fallen off and caution has returned. Until the job market and pace of hiring picks up, this cautious attitude will prevail." <snip>

[zbdent]

1. Hmm, what happenec to all those "back-to-school" sales?

I guess that last year's made in china bookbag is as good as this year's made in china bookbag . . .

[papau]

2. I think you have a good point!

:-)