Consumers nervous over economy

by Adam Smith30 Jul 2013

Just days after a report indicated Americans were becoming more confident, a new survey shows consumer sentiment at its lowest level since April.

Late last week, the Thomson Reuters/University of Michigan index on consumer confidence hit its highest level since July 2007. But a new Gallup poll has shown a reversal in Americans' outlook on the economy. The pollster's Economic Confidence Index registered a -13 for the week ending July 28, 10 points lower than in early June.

But Gallup pointed out that, while consumer confidence has edged downward in their poll since early June, a long-term look at the results shows Americans at their highest level of confidence since January 2008.

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