RR Phantom
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| Subject: US consumer confidence 'falls sharply in August' Thu Sep 01, 2011 6:20 am | |
| US consumer confidence slumped in August to its lowest level since April 2009, according to the latest monthly Conference Board report.
Its closely watched consumer index sank to 44.5 this month, from a downwardly revised 59.2 in July.
A reading of 90 or above indicates a healthy economy on the index, which measures consumers' attitudes to jobs and spending in the short term.
Official data on Friday is expected to show US unemployment remains above 9%.
"What we are effectively going through is a crisis of confidence," said Tom Porcelli, an economist at RBC Capital Markets in New York.
http://www.bbc.co.uk/news/business-14725379 |
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