Consumer confidence is down again as the stock market remains unpredictable, a credit crisis continues, and home prices fall.
The unemployment rate in the country is now over 6 percent. According to the The Conference Board Consumer Confidence Index -- confidence is at an all time low.
"A consumer-led recession is upon us, and it promises to be a serious one," Joshua Shapiro, chief domestic economist at MFR, a research firm, wrote Tuesday in the New York Times.
What does this mean for you? This could lead to more job cuts and more tough times borrowing money.
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Published: October 30, 2008
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