Another All-Time Low For Consumer Confidence
U.S. consumer confidence once again dropped to an all-time low for December, the Conference Board announced Tuesday. The Consumer Confidence Index dropped to 38.0 (out of 100), down from 44.7 last month.
"The further erosion of the Consumer Confidence Index reflects the rapid and steep deterioration of economic conditions that occurred in the fourth quarter of 2008," the Conference Board Consumer Research Center's director, Lynn Franco, said as part of the release. "The overall economic outlook remains quite dismal for the first half of 2009, and only a modest recovery is expected in the second half."