Posted on 07/27/2010 8:11:15 AM PDT by tobyhill
Uncertainty about the economy continued to shake consumer confidence in July, pushing a key measure of morale to the lowest level since February.
The Conference Board, a New York-based research group, said Tuesday that its Consumer Confidence Index dropped for a second straight month, to 50.4 in July from June's upwardly revised level of 54.3.
July's reading was lower than expected. Economists had forecast the index to have ticked down to 51 in July from 52.9 in June, according to a consensus estimate from Briefing.com.
"Consumer confidence faded further in July as consumers continue to grow increasingly more pessimistic about the short-term outlook," Lynn Franco, director of the Conference Board Consumer Research Center, said in a statement. "Concerns about business conditions and the labor market are casting a dark cloud over consumers that is not likely to lift until the job market improves."
(Excerpt) Read more at money.cnn.com ...
Key words; “Until the jobs market improves.”
Sort of like saying; “Daily floggings will continue until moral has improved!”
The Marx Brothers would be better than Obomo and Co. The Press Corpse is still Dead.
What in the world do they expect? Bush tax cuts expiring is cause enough alone to hold on to every penny...
I was walking through a Walmart one day when two supervisors were operating an employee recruiting
stand. One turned to the other and said “They are
quiting faster than we can fire them!” as I walked
by. I lmao!!!
I also heard at AT&T they used to say “The layoffs
will continue until the moral improves” as they had
layoff after layoff.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.