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Tuesday, December 30, 2008

Armageddon Index Crushed, but an Improved Outlook

Consumer Confidence hit another low in December:

The Conference Board Consumer Confidence Index™, which had increased moderately in November, declined to a new all-time low in December. The Index now stands at 38.0 (1985=100), down from 44.7 in November.
Below is as a chart of EconomPic's 'Armageddon Index' (details here) for December. As can be seen, consumer confidence was crushed in December for current business conditions and labor markets, but those surveyed are more optimistic (on a relative basis) in their outlook than in October.