Legit News
Consumer confidence tumbles to 9-month low
A measure of U.S. consumer confidence slid in August to a nine-month low as worries about job growth and the economy overshadowed the Federal Reserve's recent pause in some two years of raising interest rates, a survey showed on Tuesday.
Less favorable business conditions coupled with a less favorable job scenario have resulted in the largest one-month decline in confidence since Hurricane Katrina last year," said Lynn Franco, director of The Conference Board Consumer Research Center. Consumers are growing increasingly pessimistic about the short-term outlook," she added in a statement. The Fed's policy-setting committee voted to leave its benchmark federal funds rate steady at 5.25 percent on August 8 but left the door open to future rate increases in case inflation proved tenacious.
Posted by | Tue, Aug 29, 2006 - 07:21 AM
Search
Hot Topics
- when do the SATA III @6Gb/s hard drives come out?
- CPU Core Temps!
- Nvidia Tools
- What would be the max recomended video card for e8500
- Nvidia's fermi
- How to print my daughters’cell phone text messages out?
- friend needs help
- How to convert and edit video/audio files for iPod
- Problem installing XP
- Logitech MX 1100 Cordless Laser Mouse $19.99 after MIR