Consumer confidence falls to 40-year low

October 29, 2008 08:28AM

The U.S. consumer confidence index fell to 38 in October, its lowest level in 40 years, from 61.4 the month before, according to a survey by the nonprofit Conference Board. The confidence fall reflects a decrease in income and home values, and a record number of outstanding mortgages in foreclosure, the survey said.

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