Consumer confidence survey historically low

Consumers in the U.S. were the most pessimistic ever in October as stocks plunged and banks shut off credit, raising the risk spending will tumble.

The Conference Board’s confidence index decreased to 38, less than forecast and the lowest reading since monthly records began in 1967, the New York-based research group said today. A separate report showed home values continued to drop in August.

Read Full Article from Houston Chronicle

- Posted: 2008-10-28 10:15:18

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