U.S. government impasse takes toll on consumer confidence

10/13/2013 | Bloomberg

U.S. consumers' dim view of the partial government shutdown is sapping their confidence this month, with the Thomson Reuters/University of Michigan preliminary consumer sentiment index sliding to 75.2 from 77.5 in September. But the effect may be reversed if lawmakers can reach a resolution. "The labor market has been improving, and hopefully this degree of turmoil in Washington is just temporary," said Jim O'Sullivan, chief U.S. economist at High Frequency Economics in Valhalla, N.Y.

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