Economists say sluggish growth and sagging consumer confidence aren't signs of another recession but indicate that the nation's financial recovery will be slow going.
Consumer confidence has dropped for the second month in a row. That doesn't bode well for consumer spending or a strong recovery. But what if part of the meager spending trend is because some consumers, such as yours truly, have gotten used to spending less and saving more?
Consumer confidence fell almost ten percent in June. The consumer confidence index recorded the biggest drop since February.
Investors worldwide have grown more cautious about the outlook for the economy and corporate profits.
The consumer pause in May came after seven months of gains in retail sales. There's some concern about a 'double dip' recession, but most forecasters see the economy recovering at a slow pace.
This recession is different. This time, stocks will go down, down, down and stay there for a long time.
One month doesn't make a trend, but recent gains in job growth were broad-based across the economy. GDP forecasts have edged up, too. This bodes well for a jobs recovery that’s better than what followed the 2001 recession.
Surveys released Thursday suggest American consumer confidence is up, fueled by improved home prices and jobs data. But some headwinds to recovery remain.
Although retailers are hawking Black Friday deals, will consumers be in a mood to take them up on their offers?