US Consumer Confidence: Lowest in two years

US Futures opened lower on Tuesday in the wake of the latest consumer confidence figures. Confidence levels in August dropped to their lowest in more than two years with bleak expectations for employment and income in the US.

Lynn Franco, Director of the Conference Board’s Consumer Research Center, said in a statement “A contributing factor may have been the debt ceiling discussions since the decline in confidence was well underway before the S&P downgrade.”

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