U.S. Consumer Confidence Nears All Time Low
According to the latest data in March, U.S. consumer confidence was near an all time low as more and more people fear a worsening economy and further job losses.
These reports followed last week's news of the economy shrinking by over 6% in the fourth quarter, which was the fastest since 1982.
The main concern for consumers seem to be whether they would have to face further adversity in the future as the economy gets worse. Most people are afraid of losing their jobs and are worried about their mortgages, increasing credit card debt, and even pending student loans as well.
With the uncertainty they face over future loan and household payments, consumer confidence will take a long time to bounce back.
