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Unemployment hits US consumer confidence

Unemployment hits US consumer confidence article image

Increasing unemployment has contributed to a plunge in US consumer confidence, which fell for the second consecutive month, according to research firm Conference Board. Their report showed the confidence index fall to 46.6 after an eight-month peak of 54.8 in May and a decline to 49.3 last month. Weak consumer confidence will trouble the US economy, which was showing early signs of recovery until rising unemployment began to take its toll. Conference Board's research director Lynn Franco said, "more consumers are pessimistic about their income expectations, which does not bode well for spending in the months ahead".

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