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U.S. Economy: Confidence Sinks on Concern Over Jobs

Confidence among U.S. consumers sank in June more than forecast as Americans became distressed over the outlook for jobs and incomes.

The Conference Board’s confidence index slumped to 52.9 this month, below the lowest forecast of economists surveyed by Bloomberg News, from a revised 62.7 in May, figures from the New York-based private research group showed today. Sentiment fell most in regions affected by the oil spill.