Consumer Confidence Hits 26-Year Low

Consumer Confidence Hits 26-Year Low

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Consumer confidence in the U.S. has dropped to its lowest level in 26 years, according to the latest Reuters/University of Michigan sentiment index report issued late last week, Bloomberg News reported.

The number reported, 62.6, was down from 69.5 in March, and also down from an early April estimate of 63.2. The drop in confidence was attributed to high unemployment, as well as high gas prices and declining home and auto sales.

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