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Consumer Confidence Hits 23-Year Low

First Posted: 12- 2-08 08:29 PM   |   Updated: 01- 2-09 05:12 AM

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Consumer confidence has reached a new low in weekly polling since late 1985, coinciding with official word the U.S. economy has been in recession the past year.

The announcement is nothing new to consumers: The ABC News Consumer Comfort Index has fallen from -17 in mid-December 2007 to -54 today. En route it's matched or surpassed its previous low, set in 1992, eight times this year.

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Filed by Marcus Baram  |  Report Corrections