The Conference Board, a non-profit business organisation, has reported that its consumer confidence index nose-dived to 64.5 in March, down from 76.4 in February and far below the 73 expected by most surveyed economists. The index now stands at its lowest level since just before the onset of the Iraq War. Even more depressing… the “forward-looking expectations index” sunk to its lowest level since Watergate and the Arab oil embargo of 1973.
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