Consumer Confidence at 16-year Low

BusinessConsumer Confidence at 16-year LowConsumer Confidence at 16-year LowThe Associated PressSoaring gas prices and weakening job prospects left shoppers gloomier about the economy in May, sending the Consumer Confidence Index to its lowest point in nearly 16 years. (May 27)Soaring gas prices and weakening job prospects left shoppers gloomier about the economy in May, sending the Consumer Confidence Index to its lowest point in nearly 16 years. The 57.2 reading marks the fifth straight month of decline and is the lowest since the economy was coming out of a recession in 1992. Investors meanwhile received mixed news about the housing market. The Standard&Poor's/Case-Shiller index showed that housing prices dropped at the sharpest rate in two decades during the first quarter. The Commerce Department however said new home sales rose in April for the first time in six months. That unexpected increase was little comfort as sales activity is still near its lowest level in 17 years. ___ ___, The Associated Press.(****END****)

Category:

News & Politics

Tags:

• economy
• consumer
• confidence
• 16-year

[ContrastY]

People are being fired right and left, their 401ks have been looted, their unemployment insurance has run out, their losing their homes, their going going bankrupt and you expect people to keep shopping?

Mind you, this is all going down on the Republican watch.

The Repubs have been in charge for almost a decade and you can see what a disaster that has been for this country and OTHER countries.

[Orion602]

go shopping and boost economy ;)

[gonell3297]

FIRST