Consumer Confidence Falls on Economic Concerns

Washington, DC, November 27, 2007— Consumer confidence sank in November on growing economic concerns about the future, the Conference Board said Tuesday.

The consumer confidence index declined to 87.3 from 95.2, well below the 90.2 expected by economists.

The decline in November was driven by higher energy prices and falling prices for stocks and homes.

"Despite this rather bleak outlook, consumers have not lost their holiday spirit," said Lynn Franco, director of consumer research at the conference board.