-->Consumer confidence plunges in Dec to 80.3 By Rex Nutting
Consumer confidence plunged to 80.3 in December from 84.9 in November, the Conference Board said Tuesday. The December figure is just above the 9-year low of 79.6 recorded in October. Economists were looking for the index to rise to about 85.3."The major factor dampening consumers' spirits has been the rising unemployment rate and the discouraging job outlook," said Lynn Franco, head of the board's consumer research center. The present situation index fell to a nine-year low of 69.9 from 78.3 in November. The expectations index fell to 87.2 from 89.3.