Consumer Outlook Remains Bleak

Consumer Reports recently revealed their July 2011 index of consumer sentiment and, to no one’s surprise, it wasn’t exactly rainbows and unicorns. The drop in the index’s month-to-month readings was the worst in nearly two years and dropped it to its lowest level since December 2009, fueled mainly by the federal government’s shenanigans regarding the debt ceiling. Also contributing to consumers’ negative outlook was the continuing weak job market, a key indicator of the health of the overall economy. The CR index, which is composed of five parts (Sentiment, Trouble Tracker, Stress, Retail, and Employment) fell more than 5 points in July, to 43.4.

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