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US Consumer Confidence Slides

Lowest rating in nearly a year, according to Conference Board,

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By: TOM BRANNA

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US consumers, these days, are a glum lot. Thee Conference Board’s index of consumer confidence decreased to 60.6 from a revised 65.4 in July. The 4.8-point decrease was the biggest since October. The reading was less than the most pessimistic forecast in a Bloomberg survey in which the median projection was 66. Why the dour outlook? Rising gasoline prices, a jobless rate that’s been above 8% since the start of 2009 and limited income gains are keeping consumers down. Analysts note that persi...

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