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Unemployment rises, consumer confidence falls

Michael Tucker, professor of Finance at Fairfield University, doesn’t think unemployment has quite touched bottom yet. As more bad economic indicators pop up, it shakes consumer confidence, which, in turn, forces people to cut back on spending, keeping the economy mired in the recession. “The more bad news we get, people are hesitant to spend,” Tucker said. “It discourages us from buying, which is what the economy needs. We’re in a pretty deep hole, and it’s hard to climb out of it.”

Published in Westport Minuteman on 7/9/09

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