Quote:
Originally posted by Hank Chinaski
I don't get "consumer confidence." the economy is bad because we're not confident that the economy will be good?
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Consumers who aren't confident that the economy will stay strong don't buy big durables, cars, and houses. Thirty years ago, a drop in those types of purchases would have a greater impact on the economy. Consumer confidence isn't as good a predictor in our service economy. No matter how many people are unemployed or not getting big raises, we seem to consume more than enough Big Macs and video games.
