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July 27, 2012

More Good News

Consumer confidence now at all-time lows [correction: the lowest level this year]:

Confidence among U.S. consumers dropped in July to the lowest level this year as the labor market and broader economy showed few signs of improvement.

The Thomson Reuters/University of Michigan final index of sentiment declined to 72.3 this month from 73.2 in June. The gauge was projected to hold at the preliminary reading of 72, according to the median forecast of economists surveyed by Bloomberg News.

A slowdown in hiring in the second quarter, which may reflect companies’ concerns about demand as Europe’s economy falters, is damping moods of Americans whose spending accounts for about 70 percent of the economy. Another report today showed the expansion cooled in the second quarter.

John Podhoretz notes that no president has ever won re-election in a weak economy like this.

The White House reaction? Hey, green shoots!

Right. Let us know how that works out for you, champ.


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posted by Slublog at 10:54 AM

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