With all of the day’s turmoil, consumer confidence is lower than it has been in years. The holiday season, which has long been a money-tree for retailers, is now cast in an unfavorable light. The Conference Board announced that the Consumer Confidence Index level was 59.8 on Tuesday, just half of what it was a year ago. The figure is derived from a survey of 5,000 American households, and how citizens see the economy. The 59.8 does not reflect Monday’s sharp stock market drop, but it seems likely that confidence levels will continue to fall.
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