Consumer Confidence Crumbles in February


Consumer confidence unexpectedly plummeted in the February reading, dropping 10 points to 46, as Americans' evaluation of the job market turned more pessimistic, The Conference Board announced Tuesday.

A Bloomberg News economists surveyed had expected the index to dip to 55 this month after jumping to a revised 56.5 in January. The index was at 53.6 in December and 50.6 in November. It hit a record low of 25.3 in February 2009. (Base year of 1985 = 100.)