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Mitsui Holdings - US Consumer Confidence 10-month Low.
Malcom Garcia
“Mitsui Holdings”: Further evidence that the US consumer is not set to return anytime soon.
“Mitsui Holdings”: Confidence among US consumers fell in February to the lowest in 10 months as their short-term outlook for the labor market deteriorated, according to a recently released private report.
The Conference Board, an industry group, said its measure of consumer attitudes dropped to 46.0 in February from a revised 56.5 in the previous month. February's result is the lowest since April 2009.
Analysts’ expectations were for a February result of 55.0. The expectations index fell to 63.8 from 77.3. The present situation index dropped to 19.4 from 25.2 in January, the worst since February 1983.
“Mitsui Holdings” analysts suggested that the figures, when considered alongside recent jobless claims and retail sales figures, confirmed that the recovery in the United States was particularly weak at best and subject to a double dip recession at worst.
The firm continues to advise clients to protect their wealth as calls for additional stimulus packages from the Obama administration grow in intensity.
“Mitsui Holdings” continues to be an advocate of precious metals as the most effective means of preserving the purchasing power of one's wealth. The firm advises clients to ignore short-term price volatility and, instead, to focus on the long-term benefits of holding gold and/or silver.
The price of gold is expected to exceed $1350 before the end of 2010.
Author Site
4/9/2010
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