29 Sep 2010

Consumer gloom in US

10:01 am on 29 September 2010

Consumers in the United States are becoming more gloomy about the economy.

A confidence survey by the Conference Board showed confidence fell in September to a level not seen since February.

It found that American are worried about the country's high unemployment rate, which is almost 10%, their job prospects and the health of the economy in the short term.

Consumer spending accounts for about 70% of US economic activity and is seen as critical to a strong recovery.