Job Worries Sink Consumer Confidence

February 26, 2008
Job Worries Sink Consumer Confidence

Consumer confidence plunged in February as Americans worried about less-favorable business conditions and job prospects, a business-backed research group said Tuesday.

The Conference Board said its Consumer Confidence Index fell to 75 this month from a revised 87.3 in January.

The reading was the lowest since the index registered 64.8 in February 2003, just before the U.S. invaded Iraq, researchers said, and was far below the 83 expected by analysts surveyed by Thomson/IFR.