Consumer Confidence Goes Fall Into The Inferno's Ninth Circle

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The Ninth Circle of Hell in Dante’s Inferno. The home of traitors to their own kind.

The Conference Board today reported that consumer confidence hit 38 for the month of December, the lowest level since the survey began. The organization said "The further erosion of the Consumer Confidence Index™ reflects the rapid and steep deterioration of economic conditions that occurred in the fourth quarter of 2008."

The board also reported that "The Present Situation Index is now close to levels last seen in the months following the 1990-91 recession, but is not as low as levels reached during the 1981-82 recession. Declines in the Expectations Index appear to be moderating, but this index continues to hover at historical lows."

Another break in the wall.

Douglas A. McIntyre