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U.S. Consumer Confidence Stagnates

July 21 2011, 10:06

FMX|Connect- WWW.FMXConnect.com (Reported on 7/21/2011)

U.S. Consumer Confidence Stagnates

Source: Bloomberg

Consumer confidence stagnated last week as Americans’ optimism over their current finances clashed with growing pessimism about the state of the economy. The Bloomberg Consumer Comfort Index was minus 43.3 in the period to July 17, the highest since April, compared with minus 43.9 the prior week. The monthly gauge of the economic outlook improved from a two-year low.

Unemployment at 9.2 percent in June, the smallest payroll gain in nine months, and a foreclosure-ridden housing market are weighing on the outlook for growth. Gasoline prices are rising again after declining in May and June, threatening to further limit consumer purchases, the biggest part of the economy. To read the full article, Click Here.

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