Consumer Confidence Down Again in January

New York, NY, Jan. 27, 2009--Consumer confidence hit a record low in January, according to the monthly Conference Board index reported Tuesday, as worries worsened about future income.

The January consumer confidence index fell to 37.7 from an upwardly revised 38.6 in December. Economists had expected a January reading of 38.

"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's Consumer Research Center.

"Looking ahead, consumers remain quite pessimistic about the state of the economy and about their earnings."