Wednesday, September 26, 2007
We'll Shop Our Way Out of This Mess!
This cannot be susainable:
Sept. 25 (Bloomberg) -- Consumer confidence fell more than forecast in September to the lowest level in almost two years, as declining home values, a deteriorating labor market and tougher borrowing standards took a toll on Americans' spirits.
The Conference Board's index of confidence dropped to 99.8 from a revised 105.6 in August and workers were less optimistic about job prospects, the New York-based group said today.
The report raises concern that the prolonged housing recession and tougher credit standards will put a brake on consumer spending, which accounts for more than two-thirds of the economy.
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