NEW YORK (Dow Jones/AP) - Troubles in the economy are taking
their toll. A new snapshot of consumer confidence in the U.S. has
dropped to the lowest level in 26 years.
The University of Michigan survey for April puts sentiment at
62.6. That's down from 69.5 in March.
Economists had been looking for a slightly higher reading. It
was the lowest since March 1982.
The report finds nine of 10 respondents believe the economy is
in recession. Many said they expect to use government rebate checks
to pay down debt or add to savings.