MOOD: A Growing Cloud of Doubt

Fear of recession, persistently high prices and disillusion with Administration economic policies are causing more and more Americans to view the economic future with a deepening sense of worry. This growing uncertainty was underscored last week by a report on the University of Michigan's latest survey of consumer attitudes, which noted that "never before in the 25 years that the surveys have been conducted has consumer pessimism been so widespread."

Between the end of 1972 and last month, when the latest study was completed, the consumer-confidence index plummeted 19 points to 71.8. That was a much sharper decline than in the...

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