US consumer confidence sank last month to a five-year low in the wake of the terrorist attacks on New York and Washington, according to a new report. The consumer confidence index for September slid to 97.6, its lowest level since January 1996 from 114 in August. It was the largest drop since the 1990-91 recession.
The terrorist attacks on New York and Washington will cut economic growth sharply across the world, according to a range of new and revised forecasts, reports the Financial Times. The majority of economists now expect the US economy to be in recession in the third and fourth quarters of this year.
Unilever said the attacks on the US would directly affect the performance of at least two of its businesses, contributing to a more cautious short-term trading outlook. However, it still expects to achieve this year
