Consumer Confidence and the Effect on the Economy

Today, I wrote on my personal blog, An Economic Mindset, the recent release of the lowered consumer confidence rating.  I discuss the effects that can be seen in the US economy, but what about the global economy?

The initial thought that comes to mind is the progress made by the EU to establish a more fiscal policy to help with the Eurozone crisis.  But will the same problems within the United States eventually find their way to the EU?

We see the three major problems in the United States for the drop in consumer confidence: job creation, fuel prices, and the housing market.  With each of these three factors, the Eurozone can be seen to be struggling with all of them at this time.  I believe that the EU is going to have to struggle in similar matters to the United States with its development to control and growth in the European economy.

References:

1. Amano, Evan. "Consumer confidence and the Effect on the Economy". An Economic Mindset. http://aneconomicmindset.blogspot.com/2012/01/consumer-confidence-and-effect-on.html