U.S. consumer confidence falls to all-time low

10/29/2008 | Financial Times (free content)

As the financial crisis settles in, the U.S. is seeing its lowest consumer confidence since the Conference Board index was created more than 40 years ago. It fell to 38 in October from 61.4 in September, far less than the 52 that economists predicted. Consumer spending accounts for about 50% of the country's GDP.

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