The U.S. economy is becoming the little engine that couldn’t.
You, of course, remember the children’s story in which self-confidence and determination pull the little engine up and over a steep hill. Unfortunately, after four years of struggling to gain momentum, even the little engine would likely become discouraged.
So it is with the American consumer. The Consumer Confidence Index for June 2012 slipped for the fourth consecutive month for the first time since May 2008, dropping from 64.4 to 62.0 (63.0 was expected).