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Consumer confidence edges down

January 27 2009

The Conference Board's consumer confidence index edged down further in January, the organization reported. The index now stands at 37.7 (1985=100), down from 38.6 in December.

"The consumer confidence index continues to hover at all-time lows (the index began in 1967) and it appears that consumers have begun the New Year with the same degree of pessimism that they exhibited in the final months of 2008," said Lynn Franco, director of The Conference Board consumer research center.

The consumer confidence index is based on a survey of 5,000 U.S. households.

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