The C0nference Board rep0rted that consumer confidence dropped again in June, after seeing a slight improvement in May. The index currently stands at 49.3, based 0n a survey of 5000 representative h0useholds. The ideal index is 100 based on a robust economy in 1985.
Lynn Franco, Director of The Conference Board Consumer Research Center, says, “After back-to-back months of strong gains, Consumer Confidence retreated in June. The decline in the Present Situation Index, caused by a less favorable assessment of business conditions and employment, continues to imply that economic conditions, while not as weak as earlier this year, are nonetheless weak. Looking ahead, Expectations continue to suggest less negative conditions in the months ahead, as opposed to strong growth.”
In addition, unemployment stood at 9.5% at the end of June, with 467,000 US jobs being lost. For the complete report, visit the US Bureau of Labor Statistics.
What does this mean to you? It means that any stimulus the government is planning is n0t yet having a positive impact. Our econ0my remains in a recession, and there aren’t any signs of it improving any time soon. To get more specific info. about how you can rally to survive the recession, call me for a free, no obligation consultation. I’ll tell you what economic experts like Harry Dent are predicting for the months and years to come.
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