Consumer confidence plunges to lowest in 41 years - WKOW 27: Madison, WI Breaking News, Weather and Sports

Consumer confidence plunges to lowest in 41 years

WASHINGTON (AP) -- A private research group says consumer confidence in the U.S. economy plunged in October to its lowest in 41 years, as stock markets dropped sharply and companies began laying off workers.

  The Conference Board reported Tuesday that the consumer confidence index fell to 38, down from a revised 61.4 in September and significantly below analysts' expectations of 52.

  That's the lowest level for the index since the Conference Board began tracking consumer sentiment in 1967, and the third-steepest drop.

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