CONSUMER CONFIDENCE PLUNGES

The latest consumer confidence figure from the University of Michigan survey is out.

The index fell to 74.5 from last month’s reading of 82.7, well below expectations of a slight decline to 82.0.

That is the largest drop the index has registered in a while:

consumer confidence

[credit provider=”Bloomberg, Business Insider”]

This was the first estimate for December consumer confidence. We will get another estimate later in the month.