"The Reuters/University of Michigan Surveys of Consumers said its final index of confidence for August fell to 65.7 from 66.0 in July.
That was the lowest since 65.1 in April but above economists' expectations for 64.5 and also higher than this month's preliminary reading of 63.2"
Most economists are calling the end of the recession, correct? Unemployment may continue to increase into 2010, but economists are predicting positive GDP numbers for Q3.
"Consumers rated the current economic conditions the worst since March, when the stock market hit 12-year lows."
Why, if things are getting better, is consumer confidence falling month after month again? Why were economists expectations even worse than the actual numbers? If things are turning around, shouldn't consumer confidence be improving? This is measuring consumers' views of current economic conditions, and isn't simply reflecting more discouragement from joblessness. The stock market has risen sharply over these last few months of declining consumer confidence. Isn't consumer confidence typically a leading indicator?