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Article: Consumer outlook: bleak.(Business)
- Article from:
- Rocky Mountain News (Denver, CO)
- Article date:
- December 31, 2008
CopyrightCOPYRIGHT 2008 Rocky Mountain News. All rights reserved. Reproduced with the permission of Thomson Scientific by Gale Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Consumer confidence hit an all-time low in December, dropping unexpectedly in the face of layoffs and deteriorating markets for housing, stocks and other investments.
The Conference Board's Consumer Confidence Index fell to 38 in December from a revised 44.7 in November. Economists surveyed by Thomson Reuters had expected the index to rise incrementally to 45.
The separate Present Situation index, which measures how respondents feel about business and employment prospects, fell to 29.4 in December from 42.3 in November. It is now close to levels last seen after the 1990-1991 recession.
"Deepening job insecurity and falling asset prices are ...