U.S. Consumer Confidence at Lowest Level in 13 Years Following Hurricane Katrina the consumer confidence in the U.S. has dropped to its lowest point in over a decade. Not even the terrorist attacks on Sept. 11, 2001 brought the consumer's outlook on the future down this much. The drop in confidence is in line with the drop seen after Hurricane Andrew in 1992. Since two-thirds of the U.S. economy is derived from consumer spending, a drop in confidence could have a large impact on the U.S. economy. Many Americans may be worried about an economic slowdown, but recently the consumer confidence level has not had a direct impact on the economy, with people saying things are getting worse and still buying houses and cars. Source:
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