Take a gander at Yahoo!’s headlines this morning:
Once again, bad economic news comes, as Glenn Reynolds regularly notes, unexpectedly.
UPDATE: Guess these folks in the media have just believe that if a Democrat is president, with Congress passing his $800-billion recovery act, the economy must needs recover.
Americans are losing faith that the economy will keep improving, according to a monthly survey.
The Conference Board’s Consumer Confidence Index fell to 60.8 from a revised 66 in April, a sign of the toll that high gas prices, a choppy job outlook and a moribund housing market are taking on people’s psyches. Economists had expected an increase to 67. It was the lowest reading since November.
UP-UPDATE: “And who, by the way,” Michael Barone asks
. . . are the “economists” who had expected consumer confidence to rise? Perhaps the Associated Press writers could do a little investigation here and tell us who the economists are who keep getting things wrong. Or will they be content to keep characterizing negative economic trends as “unexpected”?