Consumer Confidence Plunges in February

by Marilou Long on February 23, 2010

in Earnings,Economic Indicators,Employment

Consumer confidencein February to 46.0 from 56.5 in January.  The present situation index is at the lowest reading in 27 years.  As the article in the WSJ details, consumers are worried about jobs and income.

This confidence number is in direct contrast to recent good earnings reports from Cisco, Home Depot, and Hewlett Packard.  It would seem to indicate that the U.S. domestic economy will continue on its slow growth path.  Job creation needs to be our number one priority right now.

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