America Breaking News: Consumer Confidence Slips in July as Outlook Dims

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America Breaking News: Consumer Confidence Slips in July as Outlook Dims

America Breaking News: Consumer Confidence Slips in July as Outlook Dims
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America Breaking News: Consumer Confidence Slips in July as Outlook Dims

by Wochit 1:00 mins

According to a private sector report U.S. consumer confidence pulled back in July as consumers were less optimistic about the outlook for the economy and labor market, As a new round of peace talks between Israelis and Palestinians begins, Secretary of State John Kerry thinks time may be running out. The talks come after six months of shuttle diplomacy to restart negotiations that broke down in 2008. Economic growth probably slowed sharply in the second quarter, but its pace is unlikely to change views that the Federal Reserve will start trimming bond purchases later this year. The slowdown is expected to be temporary, with an acceleration in output forecast for the rest of 2013 as the drag from higher taxes and deep budget cuts wanes.

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