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Consumer confidence plummets
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| Contributor | RP |
| Last Edited | RP Sep 27, 2005 03:52pm |
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| Category | Report |
| News Date | Tuesday, September 27, 2005 04:30:00 PM UTC0:0 |
| Description | Consumer confidence plummeted almost 19 points in September, its biggest drop in 15 years, as Americans worried about the economic fallout of Hurricane Katrina and rising gasoline prices.
The Conference Board said its Consumer Confidence Index, compiled from a survey of U.S. households, dropped 18.9 points to 86.6, from a revised reading of 105.5.
That marked the biggest fall since October 1990 when the index fell 23 points to 62.6 in the wake of the recession. The September reading was also the lowest level since October 2003, when it registered 81.7.
Analysts had expected the September reading to be 98. |
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