SURPRISE! Consumer confidence "unexpectantly" DROPS.

[ShaneGR]

The stock market people missed this one by about 10 points. But nevermind all of that! We're in a recovery! Things are hopping! Pay no attention to the unemployment numbers, future layoffs, lost profits, crappy 401K numbers....

We're recovering!!

http://money.excite.com/ht/nw/bus/20030729/hle_bus-n29289619.html

(snip)
Consumer Confidence Suffers Surprise Drop




Tuesday July 29, 10:54 AM EDT

By Wayne Cole

NEW YORK (Reuters) - U.S. consumer confidence took a surprise spill in July as worries over rising unemployment took a heavy toll, the Conference Board reported on Tuesday.

The private research group's monthly consumer confidence index slid to 76.6 in July from 83.5 in June. That was the lowest reading since March, when the attack on Iraq was in full swing, and completely confounded analysts, who had looked for an improvement to 85.0.

"It's a bit of a disappointment, like two steps forward and one step back," said Jim O'Sullivan, an economist at UBS. "People are obviously concerned about jobs."

The index that measures jobs hard-to-get rose to 33.1 percent in July from 31.9 percent in June, its highest level since January, 1994. That mirrored the national unemployment rate, which jumped to 6.4 percent in June, also a nine-year high.

[Code_Name_D]

1. You should post this in the economic forum.

Their is a poster their that needs to eat his words. And this looks like just another course in his meal. :evilgrin:

[fertilizeonarbusto]

2. OMG

We are in fucking free-fall! That is abysmal!

[Brian Sweat]

3. No, no, no

Bush's new tax cut is going to turn the economy around.

[alfredo]

4. Looks like even CNN is noticing

They have a poll on consumer confidence that may have been freeped, but you can never tell with CNN.

http://www.cnn.com/

[Doctor_J]

5. Steve Forbes

was on one of the shows last night, predicting that the CCR would jump up today, with "People out spending their tax cuts". My question - how does any of these partisan hacks have ANY credibility left?

[fertilizeonarbusto]

6. What fucking tax cut, Steve?

I got squat, you robotic, beady-eyed pinhead. But, I actually work for a living.

[Kat45]

7. Well, Duh!

And they're surprised because...???