US Economy: Mood amongst US consumers worsens
US consumer confidence has unexpectedly dropped to a record low in December, in the face of the US economic slowdown and continuing job cuts. The index fell to 38, from November's revised 44.7 figure, though it had been expected to rise. The dismal job market appears to have outweighed falling oil prices in consumers' minds, analysts said. Meanwhile, October house prices in 20 US cities fell by a record yearly rate, according to a key home price survey.
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