Consumer Confidence Sinks to Record Low – Consumer Goods * US * News * Story – CNBC.com

Consumer Confidence Sinks to Record Low – Consumer Goods * US * News * Story – CNBC.com
Economists cited several factors for consumers’ gloomy outlook:

–Hiring practically stalled in December, pushing the unemployment rate to 5 percent, a two-year high, the government reported last week.

–The meltdown in the housing market has dragged down home values and made people feel less wealthy.

–Harder-to-get credit has made it difficult for some to make big-ticket purchases.

–High energy prices are squeezing wallets and pocketbooks.

–There has been much hand-ringing on Wall Street and Main Street as to whether all these problems will plunge the country into recession.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s