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US economy fears as consumer confidence plunges

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Richard Blackden
London Telegraph
Sept 18, 2010

American consumers do not expect to be feeling any more confident in six months’ time, a widely-watched index revealed today, underlining the hurdles facing a recovery in the world’s biggest economy.

The Thomson Reuters/University of Michigan index of consumers’ future confidence fell this month to the lowest level since March 2009, when the shadow of the financial crisis hung heavily over the whole economy. Current confidence was little better, with the index dropping to 66.6 in September from 68.9 in August.

After an almost relentless stream of weak data over the summer, investors and analysts are desperately trying to gauge on the most likely path for the economy. While billionaire investor Warren Buffett has ruled out a double-dip recession, others are less sanguine.

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This article was posted: Saturday, September 18, 2010 at 5:22 am





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