Consumers worry about recession

Consumer sentiment level falls to 16-year low.
FEB 15, 2008
Consumer sentiment fell to its lowest level in 16 years, as consumers pay higher energy and food prices, face falling home prices as well as concern that a recession might be on the horizon. The Reuters/University of Michigan survey fell to 69.6 in mid-February, from 78.4 in January, the lowest rate since the index recorded a reading of 68.8 in February 1992, according to published reports. The current conditions index fell to 85.4, from 94.4, while the expectations index fell to 59.4 from 68.1.

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