Consumer confidence has plunged to 50.4. To put the number in perspective, it was averaging 98 in the last expansion. Bloomberg reports U.S. Economy: Consumer Confidence Slips to Five-Month LowThe Conference Board’s sentiment index fell to 50.4, below the median forecast of economists surveyed by Bloomberg News and the lowest level in five months, figures from the New York-based private research group showed today. Another report showed home prices rose more than forecast in May as a …

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Consumer Confidence Sinks to 50.4, a 5-Month Low; Home Prices Rise; Case-Shiller a Very Lagging Price Indicator