Confidence among US consumers fell to a 26-year low after employers fired workers and petrol prices surged, threatening the spending that accounts for more than two-thirds of the economy.
The Reuters/University of Michigan preliminary index of consumer sentiment decreased to 63.2 this month, the weakest level since 1982, when the jobless rate approached 11%, the worst since the Great Depression.
» US consumer confidence drops to 26-year low – Sydney Morning Herald, April 12th 2008.