US consumer confidence plunged to a historic low in December amid the rapidly deepening recession and the outlook for the next six months is "quite dismal," according to a private research firm, which has been measuring consumer confidence since 1967.
Consumers' outlook for the first half of 2009 remains "quite dismal," and they see "only a modest recovery" in the second half of the year.
Australian stocks are among many to end 2008 with their worst annual fall on record after a year scarred by the global financial crisis.
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