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NEW
YORK, Feb. 4 , 2010 -- U.S. consumer
confidence cooled this month as worries over every facet of their financial
situation mounted, according to the most recent results of the RBC CASH
(Consumer Attitudes and Spending by Household) Index. Economic attitudes soured
across the board, with consumers viewing the current economy negatively and
displaying increased pessimism about the future. As a result, the RBC Index for
February 2010 stands at 39.4, down 18.9 points from January's 58.3 reading.
"Although numerous economic
indicators are trending in a favorable direction, it's evident that 'less-bad'
is just not good enough for U.S. consumers," said RBC Capital
Markets U.S. economist Tom Porcelli. "This month's reading suggests that
consumers continue to feel financial pressure from recent volatility in stocks
and a soft job market."