From MSNBC:
Before the meltdown in the credit markets last month, the Blue Chip (a financial newsletter) consensus pegged the odds of recession in the next year at about one in four. That number recently jumped to one in three, according to Randell Moore, the newsletter’s editor.
The growing signs of economic strain have consumers feeling more pessimistic — especially since most no longer have rising equity in their home to help fund their shopping trips. Consumer confidence dropped sharply in August, based on a widely watched University of Michigan survey.
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You can view the University of Michigan survey here.
You can view the Conference Board survey here.
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1 comment:
This comes as no surprise. The housing market will continue to way on the economy which in return will cost more jobs in that sector.
It will continue to get worse before it gets better.I do not like to make negative comments but we are facing a down turn across
the board.
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