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 US consumer confidence 'falls sharply in August'

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US consumer confidence 'falls sharply in August' Vide
PostSubject: US consumer confidence 'falls sharply in August'   US consumer confidence 'falls sharply in August' Icon_minitimeThu 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.

US consumer confidence 'falls sharply in August' _54842586_012644689-1

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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