Consumer Confidence Hits New Low

Based on the New York business research group, America’s consumer confidence index for August fell to 44.5 from 59.2 in July. This outlook came when then the congress allowed its debt ceiling debates to drag on until nearly the last minute and the downgraded credit rating of U.S. by Standard & Poor’s. Consumers are also weighed down by the 9.1% unemployment, distressed real estate market and the unstable stocks.

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