As mentioned in the article, confidence dropped from a 81.8 to a 79.7 - about a 2.6% decrease. How do you feel this translates to consumption overall, and what should the government do (if anything) to keep confidence high?
Tuesday, September 24, 2013
Consumer Confidence Drops to Lowest Point in Four Months
Bloomberg reports that consumer confidence dropped this month to its lowest point since early summer. Of course, since consumption drives the American economy, it's vital that consumer confidence stays high and that people don't pull out their investments.
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The fed has done well to keep the bond buying at the current level. The current stability in the economy should allow households to increase their spending in the near future. This may be stretching the point but people expecting a government shutdown would watch their spending now since they may not be getting paid in the near future.
ReplyDeleteI agree with with Gift about the Fed doing a good job continuing to buy bonds, but with the way the economy has been I am not surprised that consumer confidence has dropped. The people need to see some real change within the economy. Though we are no longer in a "recession" in literal terms, we really have no clear certainty on what is to come.
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