By  on June 25, 2008

NEW YORK — Consumer confidence plummeted in June to its lowest level in 16 years amid growing concerns about high prices, falling home values and a tighter job market.

The Conference Board's monthly Consumer Confidence Index is now at 50.4, down from 58.1 in May. The two key components both fell in June, the Present Situation Index to 64.5 from 74.2, and, reaching an all-time low, the Expectations Index to 41 from 47.3.

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