Sunday, October 17, 2010
Consumers Still Shaky on Recovery
This article is about the U.S. consumer sentiment, which unexpectedly dropped in early October to its weakest level since July, whith buying plans still on the decline. Consumers' assessment of the governments economic policies fell to the lowest levels since Obama took office. The consumer sentiment feel to 67.9, down from 68.2. Comsumer spending usually accounts for 2/3 of economic activity. How big of an effect do you think this has on the economy as a whole? Do you think the consumer confidence is a good indication that the economy is still not ready to recover? What do you think?
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Consumer confidence and economic recovery are inextricably linked in that the economy cannot recover without a rebound in consumer confidence, but consumer confidence is not likely to increase until the economy recovers. Ultimately what it will take is a gradual, mutual increase in both to bring the economy back to prior levels of growth.
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