“Consumers’ optimism about future income - which had held up quite strongly in the past few months - largely vanished, suggesting worries about the economy and labor market have started to spread into consumers’ assessments of their personal situations,” said Stephanie Guichard, senior economist at The Conference Board.
U.S. consumer confidence tumbles for the fourth consecutive month to a 12-year low
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"Views of current labor market conditions weakened," she said. "Consumers became pessimistic about future business conditions and less optimistic about future income. Pessimism about future employment prospects worsened and reached a 10-month high."
Consumer confidence drops this month, potentially signaling a slowing economy
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