debtconsolidationconnection.com
501 (c)(3) non-profit Organization
Free Consultation
July posts decline in consumer confidence
By Sam Craine on Jul 28th, 2010
Consumer confidence continued to fall in July, according to a recent report from The Conference Board.
The organization noted that fears about the job market, along with a more negative view of business conditions, led to the decline. Lynn Franco, director of the Conference Board, said that consumer feelings about the short term are being damaged by their view of the economy.
"Concerns about business conditions and the labor market are casting a dark cloud over consumers that is not likely to lift until the job market improves," Franco said.
According to the organization, the Consumer Confidence Index declined from 54.3 in June to 50.4 in July. Both the Present Situation Index and Expectations Index dropped in that time as well.
Employment fears could drive consumers to reduce their spending, while others may be having a hard time paying off their credit cards. However, the latter may consider a debt management plan, which can help them over a period of time.
However, those who take part in a debt management plan should probably refrain from taking on any additional charges on their credit cards.
More Debt Management News
