Wednesday, June 1, 2011

US consumers lose faith in economy



US consumers' outlook on the economy darkened sharply in May.

Source: Press TV
http://www.presstv.ir/detail/182671.html

A new report on the US economy shows that Americans are losing faith about the country's recovery from the current fiscal crisis.

The Conference Board, a US-based nonprofit business research association, has announced that its consumer confidence index slid to 60.8 in May from 66.0 a month earlier.

"Consumers are considerably more apprehensive about future business and labor market conditions as well as their income prospects. Inflation concerns, which had eased last month, have picked up once again," said Lynn Franco, head of research at the Conference Board, according to AFP.

The Conference Board report says Americans are also worried about unemployment and rising food and fuel prices.

The report also shows that there is a growing sense that business conditions will deteriorate, jobs will be harder to find and incomes will shrink.

The number of Americans seeking unemployment benefits rose by 10,000 to a seasonally adjusted 424,000, which is above the 375,000 level consistent with sustainable job growth.

The US has been grappling with an economic downturn since it unleashed its so-called 'war on Terror' military campaigns on Afghanistan and Iraq during the administration of former President George W. Bush's.

The meltdown has been the worst economic crisis to hit America since the Great Depression of the 1930s.

No comments:

Post a Comment

Thanks for commenting on this post. Please consider sharing it on Facebook or Twitter for a wider discussion.

Russia Today (Live)

World News 2017

South Front Military Review 2017

Syria - News 2017

US News 2017

The Russian Perspective

Debate – Global Issues 2017

Current Affairs - Important Interviews – 2017

Important Information 2016 - 2017

Yemen News 2017

Turkey News 2017

Ukraine News 2016 - 2017

Palestine & Israeli Crime 2017

Iraq News 2017

Iran News 2016 - 2017

Important Documentaries

Viewpoint, Discussion & Opinion - 2017

Abby Martin – Empire Files

Global Economic News 2017

Egypt News 2016 - 2017

Libya News 2016 - 2017

Bahrain News 2016 - 2017

Sheik Imran Hosein - Islamic Eschatology

George Galloway – Comment & Opinion

English FA Cup 2016 – 2017

New Age Weather

Space News

Music for the Revolutionary Mind

Global Revolution LIVE!

Watch live streaming video from globalrevolution at livestream.com

Japan’s 3 Nuclear Meltdowns STILL ongoing (News Censored)