After displaying resilient confidence over the last few
months, consumers are finally starting to show the pangs of the looming
"fiscal cliff." The LA Times reports.
A leading measure of consumer confidence fell sharply to a
four-month low this month, suggesting that worries about future tax hikes and
government spending cuts are taking a toll on sentiment.
The drop reported Friday in the Thomson Reuters/University
of Michigan's consumer mood index -- to 74.5% from 82.7% last month -- tempered
the better-than-expected report Friday from the Labor Department. The moderate
pace of job gains held up in November despite Hurricane Sandy, and the jobless
rate dipped to 7.7% last month from 7.9% in October…..
Read all about it at http://www.latimes.com/business/la-fi-mo-economy-confidence-20121207,0,783030.story
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