U.S. consumer confidence tumbles as virus spreads – POLITICO
Consumer confidence is closely watched for signals it can provide of how willing households are to spend. Consumer spending accounts for 70 percent of economic activity in the U.S.
We think the sharp rise in positive coronavirus cases nationwide, which has prompted new restrictions and shutdowns in many states, has led consumers to be more fearful of what lies ahead for them and their families as we head into the year-end holiday season,” said Chris Rupkey, chief financial economist at global financial…
