Economists should listen to consumers

“Experts have a half-glass full outlook for the economy while average Americans are far more pessimistic. Here’s why the consumer is probably right.” posted a story the other day that does not bode well for the economic outlook. Consumers surveyed earlier this month by The Conference Board, a well-respected private business research group, gave the bleakest six-month outlook for the economy ever in the nearly 42 year history of the survey. By a 3 to 1 margin consumers expect the economy to deteriorate over the next six months.

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Filed under CNNMoney, consumer confidence, ecomonic outlook, Federal Reserve, Recession, The Economic Outlook Group

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