The Conference Board reported today that its Consumer Confidence Index dropped to 44.5 from 59.2 in July. Expectations were for a reading of 52.0. This is the lowest reading since April of 2009. Personal spending came out yesterday stronger than expected at 0.8%, so these indicators are somewhat contradictory. This may indicate that the recent market volatility will continue.
Consumer Confidence Index Drops to 44.5
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