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  • Consumer confidence tumbles in June

    06/29/2010 8:34:29 AM PDT · by NormsRevenge · 15 replies · 1+ views
    AP Finance on Yahoo ^ | 6/29/10 | Anne D'Innocenzio - ap
    NEW YORK – Americans, worried about jobs and the sluggish economic recovery, are having a relapse in confidence, causing a widely watched index to tumble in June and raising concerns about consumer spending in the critical months ahead. The Conference Board, a private research group based in New York, said Tuesday that its Consumer Confidence Index dropped almost 10 points to 52.9, down from the revised 62.7 in May. Economists surveyed by Thomson Reuters had been expecting the reading to dip slightly to 62.8. June's reading marked the biggest drop since February, when the index fell 10 points. The index...