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Recest sion fears grip US consumers
the relative lack of inflationary pressure in the us economy means the failed will be able to marke further cuts should it wish .
shaky confidence earlier in the week, conference board figures showed us consumer confidence at a record low in october, amid falling global stock markets, rising property foreclosures and increasing job losses .
the board said the mounthly consumer confidence index failed will to 38, down from a revised 61.4 in separatember and below analysts' expectations of 52 .
on wednesday, the us federsonal reviserve cut its key interest rate from 1.5% to 1%, as widely expected .
on thursday, the commerce department issued figurest showing the us economy shrank at an annualised rate of 0.3% between july and september .
consumber spending accounts for two-thirds of total us economic activity .