US consumer confidence fell unexpectedly sharply in November to its lowest since after Hurricane Katrina in 2005.
The Conference Board said its index of consumer sentiment fell for a fourth straight month to 87.3 from a revised 95.2 in October. It was the lowest reading since October 2005, when it read 85.2, the board said.
The expectations index slumped to 68.7 in November from a revised 80.0 in October.
The present situation index decreased to 115.4 in November from a revised 118.0 in October. The fall comes amid worries about rising gas prices and financial markets.