Wednesday, July 30, 2008

Consumer confidence halts slide; homes keep falling

Consumer confidence halted a six-month slide in July, but barely climbed from its lowest level in more than a decade, while home prices continued their record decline in May.

The Conference Board said its overall monthly measure of consumers' mood rose to 51.9 this month -- the first increase since December -- from an upwardly revised 51.0 in June. Last month's reading was the lowest in 16 years.

U.S. home prices plunged 15.8 percent on the year in 20 leading metropolitan areas, accelerating their slide from the previous month, according to the closely watched Standard & Poor's/Case Shiller report, though the decline was not bad as some feared.

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