Consumer cofidence plummets in August

[59millionmorons]

http://www.forbes.com/work/feeds/ap/2004/08/31/ap1524946.html

Consumer confidence, which had been on the rise since April, declined unexpectedly sharply in August, dragged down by consumers' renewed worries about job prospects, a private research group said Tuesday.

The Consumer Confidence Index dropped 7.5 points to 98.2 from a revised reading of 105.7 in July, according to a report from The Conference Board. The reading was much lower than the 103.5 that analysts had expected, and was the lowest since May, when it registered 93.1.

[Strelnikov_]

1. But I Thought Consumer Spending Was Way Up In July

Oh well, I guess we need another tax cut for the rich, Scotty.