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Consumer confidence in the United States continues to plunge off the back of the country’s deteriorating economic climate with a key measure of sentiment reaching a new low in January.
According to The Conference Board Consumer Confidence Index, consumer confidence fell to a reading of 37.7 in January, from 38.6 in December.
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"It appears that consumers have begun the new year with the same degree of pessimism that they exhibited in the final months of 2008," Lynn Franco, director of The Conference Board Consumer Research Center, said.
"Looking ahead, consumers remain quite pessimistic about the state of the economy and about their earnings."
