Consumer Confidence Hits Record Low

by Staff - February 24th, 2009 - Reuters

Consumer confidence plunged to another record low in February with expectations that already dire economic conditions will continue to weaken and the jobs market will further deteriorate.

The Conference Board, an industry group, said on Tuesday that its sentiment index fell to 25.0 from a downwardly revised 37.4 in January. The median forecast of economists polled by Reuters was for a reading of 35.5.

The February reading was a new all time low for the index, which began in 1967.

Not since the Vietnam War was tearing our nation apart, with weekly violent protests on every campus and in every city, has America been this negative on the future. Democrats are trying to say this too is Bush's fault, yet it is clear that confidence did not really take a dive until the nation got a good look at the socialist agenda of the Obama regime.