Consulting group, The Conference Board, released its August Consumer Confidence report this morning, and the results are probably not what the Obama camp was hoping for. According to the report, consumer confidence has fallen to a nine-month low. Essentially, this means that Americans turned more pessimistic about the short-term economic outlook.
According to CNBC, "The Conference Board, an industry group, said its index of consumer attitudes fell to 60.6 from a downwardly revised 65.4 the month before. Economists had expected an increase to 66, according to a Reuters poll."
Other findings from the report included:
- Expectations index tumbled to 70.5 from 78.4.
- Present situation index edged down to 45.8 from 45.9.
- The "jobs hard to get" index eased to 40.7 percent from 41 percent, but the "jobs plentiful" index also declined to 7 percent from 7.8 percent.
The Obama campaign must be disappointed with these numbers. But, don't worry, should expectations come to fruition, the government is ramping up its efforts to ensure the other 50ish% of people who don't yet take government assistance know that the government is here to help, according to the Washington Examiner.