Consumer Confidence Drops to 2-Year Low

August 30, 2011  by in UnCategorized   

By Aggregated Content in economic news on August 31, 2011 from http://c.moreover.com/click/here.pl?z5138445791&z=1250249029

Consumers' confidence in August dropped almost 15 points to the lowest level since April 2009 as worries about the economy fueled the wildest stock market swings since the financial meltdown in 2008.

At a time when Americans are increasingly worried about a weak job market, higher costs for food and clothing and recent stock market turmoil, the falling confidence numbers raise new concerns about their willingness to spend and jumpstart the economy. That's particularly important since consumer spending accounts for 70 percent of U.S. economic activity.

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