Has Washington Kicked Consumer Confidence into the Sewer?
The numbers are in, and we are not optimistic. The preliminary results of the University of Michigan’s October consumer confidence survey were released Friday, falling to 75.2, the weakest reading since April. October’s preliminary forecast was for a more modest decline to 77.2 over September’s 77.5 reading.
The ongoing erosion has been exacerbated by the U.S. government shutdown. Polls from both Gallup and the Rasmussen Consumer Index show consumer confidence has tanked since the beginning of October.
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