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September 28, 2005
Consumer Confidence Falls Sharply
Consumer confidence plummeted in September, reaching its lowest level in nearly two years, according to a leading indicator. The Conference Board’s Consumer Confidence Index fell from 105.5 in August to 86.6 this month.
Concerns over the damage wrought by Hurricane Katrina, high energy costs and slow job growth are weighing heavily on the minds of consumers, the Conference Board said.
The group expects confidence levels to rebound later this year or by early 2006 as rebuilding efforts and job growth gains momentum.
Posted by Blacks on September 28, 2005 03:52 PM
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