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Economy in Brief

Consumer Confidence Fell
by Tom Moeller August 28, 2007

Consumer confidence in August fell according to the Conference Board Survey by 6.2%. The decline retraced all of the July increase of 6.3%. Confidence fell to the lowest level in a year.

The present conditions reading similarly fell a hard 5.8%, retracing all of the 6.5% July rise. The percentage of respondents who viewed business conditions as good fell and the percentage who viewed jobs as plentiful fell as well.

The expectations index also retraced all of the July rise with a 6.6% drop. Plans to buy major appliances fell to the lowest since late last year and plans to buy carpet also dropped.

The expected inflation rate in twelve months remained at 5.1%, equal to expectations during all of last year for inflation in twelve months.

Conference Board
 (SA, 1985=100)
August July Y/Y 2006 2005 2004
Consumer Confidence Index 105.0 111.9 4.8% 105.9 100.3 96.1
Present Conditions 130.3 138.3 5.2% 130.2 116.1 94.9
Expectations 88.2 94.4 4.5% 89.7 89.7 96.9
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