Consumer confidence plummets to new low in Feb.

A private research group says consumer confidence sank to new lows in February as Americans grow more fearful over massive job cuts and shrinking retirement accounts.

The New York-based Conference Board says its Consumer Confidence Index, which had decreased slightly in January, plummeted in February to 25, down from a revised reading of 37.4 last month.

That was well below the 35.5 level economists surveyed by Thomson Reuters expected. The reading is again at its lowest point since the index began in 1967.

A year ago, the index stood at 76.4.

“Every picture tells a story, don’t it?” ’nuff said.