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The souring housing market would not sustain the retailer's current level of growth, and consumers aren't spending as much on home improvement projects, as consumer confidence tanks, and discretionary income falls.
Consumer confidence is projected to have risen to a five-month high, and data last week showed durable goods orders jumped in November by the most in four months, while sales of new homes increased to a seven-month high.
(See "Street Draws Strength From Consumer Confidence").
Eroding consumer confidence could be a particular blow to the semiconductor industry, which had been projecting a second-half turnaround as recently as last month.
The Rockefeller Foundation is financing a project to develop an economic security index, which, like the University of Michigan's consumer confidence index, will measure how economically insecure Americans feel.
Where is consumer confidence?
Consumer confidence has improved.
Consumer confidence is crucial.
So has consumer confidence.
Consumer confidence is low.
Consumer confidence is plunging.
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CEO of Professional Science Editing for Scientists @ prosciediting.com