By  on February 24, 2009

The Conference Board’s Consumer Confidence Index plummeted in February, hitting a new all-time low.

The Index now stands at 25, down from 37.4 in January.

Both components of the Index, Present Situation and Expectations, dropped in February. The Present Situation Index stands at 21.2, down from 29.7 in January. The Expectations measure declined 15 points to 27.5 from 42.5, The Conference Board said.

“Looking ahead, increasing concerns about business conditions, employment and earnings have further sapped confidence and driven expectations to their lowest level ever. In addition, inflation expectations, which had been easing over the past several months, have moderately picked up,” said Lynn Franco, director of The Conference Board Consumer Research Center.

For complete coverage, see Wednesday’s issue of WWD.

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