From The Associated Press, 7/29/03:
http://startribune.com/stories/535/4013558.html
Consumer confidence drops unexpectedly in July
Anne D'Innocenzio, Associated Press
NEW YORK --
Consumers, nervous about rising unemployment, lost confidence in their
economic prospects in July, resulting in a sharp, unexpected drop in
sentiment, according to the latest Conference Board survey.
The Consumer Confidence Index fell to 76.6 in July, a seven-point drop
from 83.5 in June, the New York-based business industry group said
Tuesday.
Analysts had expected a 1.5 percentage point increase.
``The rising level of unemployment and sentiment that a turnaround in
labor market conditions is not around the corner have contributed to
deflating consumers' spirits this month,'' said Lynn Franco, director
of The Conference Board's Consumer Research Center.
``Expectations are likely to remain weak until the job market becomes
more favorable.''
________________________________________________
Bush's lousy economy gets lousier.
Harry
.
|
