subscribesubscriber servicescontact usabout ussite mapBuy a Classified
Thu, Nov 26 2009 

Resources

print this story   Print this story
  Post to del.icio.us

Photos


Jeff Buzhaker looks at HP and Compaq laptop computers at P.C. Richard & Son appliance store in New York.
Mark Lennihan / Associated Press


Published October 27, 2009 11:24 am - CHICAGO — Consumers' confidence about the U.S. economy fell unexpectedly in October as job prospects remained bleak, a private research group said today, fueling speculation that an already gloomy holiday shopping forecast could worsen.


Worsening job picture fuels slide in confidence


By Ashley M. Heher
AP Retail Writer

CHICAGO — Consumers' confidence about the U.S. economy fell unexpectedly in October as job prospects remained bleak, a private research group said today, fueling speculation that an already gloomy holiday shopping forecast could worsen.

The Consumer Confidence Index, released by The Conference Board, sank unexpectedly to 47.7 in October — its second-lowest reading since May.

Forecasters predicted a higher reading of 53.1.

A reading above 90 means the economy is on solid footing. Above 100 signals strong growth.

The index has seesawed since reaching a historic low of 25.3 in February and climbed to 53.4 in September.

Economists watch consumer confidence because spending on goods and services by Americans accounts for about 70 percent of U.S. economic activity by federal measures. While the reading doesn't always predict short-term spending, it's a helpful barometer of spending levels over time, especially for expensive, big-ticket items.

Recent economic data, from housing to manufacturing, has offered mixed signals but some evidence that an economic recovery might be slow.

But on Tuesday, the figures showed that shoppers have a grim outlook for the future, The Conference Board said, expecting a worsening business climate, fewer jobs and lower salaries. That's particularly bad news for retailers who depend on the holiday shopping season for a hefty share of their annual revenue.



print this story    email this story   






Customer Service

Free Coupons to Print



autoconx
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Premium Jobs

various positions head start team

Join the CSIU Early Head Start Team!

The Central Susquehanna Intermediate Unit has the following full-t
...>MORE

Experienced Roofers
EXP. ROOFERS: Must have own truck, equip., & crew. Ready to start. Call 570-568-0222....>MORE

Air Quality Specialist
Up to $15.60/hr to start.
Air Quality Specialist. Local outlet. 25/30 people to start immediately. No exp. nec. Com
...>MORE

PT Welder
PT Welder MIG and TIG w/automotive exp. only. Call 570-658-3515...>MORE

PT Finance
PT Finance
3 Days/Week.
Proficient in Excel. Temp. thru Feb.
WorkForce,
358 Market, Sunbury ...>MORE

See all ads


 

Community Newspaper Holdings, Inc.CNHI Classified Advertising NetworkCNHI News Service
Associated Press content © 2009. All rights reserved. AP content may not be published, broadcast, rewritten or redistributed.
Our site is powered by Zope and our Internet Yellow Pages site is powered by PremierGuide.
Some parts of our site may require you to download the Flash Player Plugin.
View our Privacy Policy
Advertiser index