NPR logo

Consumer Confidence Slips Amid Bad News

  • Download
  • <iframe src="https://www.npr.org/player/embed/13992390/13992192" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
Consumer Confidence Slips Amid Bad News

Economy

Consumer Confidence Slips Amid Bad News

Consumer Confidence Slips Amid Bad News

  • Download
  • <iframe src="https://www.npr.org/player/embed/13992390/13992192" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

The Reuters consumer sentiment index dropped to its lowest level in a year this month. That may stem from a barrage of negative economic news. The supply of unsold homes just rose to a 16-year high, suggesting the worst is yet to come for the domestic housing market.

STEVE INSKEEP, host:

NPR's business news starts with Americans starting to feel less wealthy.

The trouble in the stock market and falling house prices are taking their toll, and one way to measure the effect is consumer confidence - how much Americans are likely to shop for clothes or go to the movies. It's important because consumer spending accounts for 70 percent of the U.S. economy.

And this month the Reuters consumer sentiment index fell to its lowest level in a year, which may reflect the economic news. The supply of unsold homes just rose to a 16-year high, and that suggests the worst is yet to come for the domestic housing market.

Copyright © 2007 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.

We no longer support commenting on NPR.org stories, but you can find us every day on Facebook, Twitter, email, and many other platforms. Learn more or contact us.