Consumer confidence at 12-month low

Tuesday, Nov. 28, 2000 | 11:04 a.m.

THE ASSOCIATED PRESS

WASHINGTON -- Consumer optimism about the U.S. economy fell in November to the lowest level in more than a year as growth slowed and stocks declined.

The Conference Board's index of consumer confidence dropped to 133.5 this month after falling to 135.8 in October. Both readings were the lowest since October 1999, when the index 130.5.

A separate report showing an October decline in orders to factories for such durable goods as aircraft, furniture and machinery underscores that higher borrowing costs are injecting some caution into Americans' spending plans.

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