The Consumer Confidence Index is out for July, and it was 50.4, down from a revised 54.3 during June, which was itself down significantly from 62.7 in May.
- KC's View:
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I’m no economist, but it isn’t hard to figure out that this probably has more to do with the continuing high unemployment rate as much as anything else - a situation likely to have political as well as economic implications as the year continues.
Add to that the problems in the Gulf and the nonstop vitriol that we tend to hear out of Washington, and it is amazing that more people aren’t depressed about the economy.
