Low Consumer Confidence, Prices Cause Worry

Whenever signs emerge to give hope for a relatively quick economic recovery, it seems that other factors pop up just as quickly to dash those hopes. This time, new statistics showing a drastic drop in consumer confidence and a similarly steep drop in prices have managed to rain on our parade.
 
Released on Friday, the monthly Reuters/University of Michigan Surveys of Consumers demonstrated a decrease of 66 to 63.2 on the index used to measure consumer confidence in August. While the statistic is revealing on its own, the more important part of the equation is that most analysts expected consumer confidence …read more