Layoffs, Personal Finances Undermine Consumer Confidence
Consumers haven’t jumped on the recovery bandwagon, according to a study by BIGresearch, despite encouragement from government, business and Wall Street. The market research firm has reported that its index of consumer confidence fell in September, with only 30 percent of consumers saying they are confident/very confident that the economy will manage a strong performance in the coming weeks, down from August level of 31 percent. Still, that’s better than during September of last than last year, when only 28 percent of consumers were confident or very confidence in the economy’s prospects. Concerns about unemployment and personal finances are weighing on consumers. When polled earlier this month, 36 percent of consumers said they expected more layoffs over the next six…
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