LOS ANGELES (KNX 1070 NEWSRADIO) -- The latest report on consumer-confidence indicates the American people are growing even more worried about the economy, as 2008 comes to an end. To the shock of many economists, the confidence-index has now hit a record low -- down to just 38, from a level of nearly 45 in November.
Most experts had actually expected it to go up slightly. The sharp drop is being blamed on big concerns about layoffs, and the deteriorating markets for housing, stocks and other investments.
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