US consumer confidence slumps to recession lows

US consumer confidence sank in October to levels seen during the depths of the last recession as Americans worried about the economy and high unemployment, a key survey showed Tuesday. The Conference Board said its consumer confidence index stood at 39.8 in October, down sharply from 46.4 in September, when it had improved slightly. "Consumer confidence is now back to levels last seen during the 2008-2009 recession, said Lynn Franco, consumer research director of the Conference Board. "Consumer expectations, which had improved in September, gave back all of the gain and then some, as concerns about business conditions, the labor market and income prospects increased." Consumers' assessment of present-day conditions als fell for the sixth consecutive month "as pessimism about the current economic environment continues to grow," Franco said.