Consumer Confidence Drops in September

.S. consumer confidence plunged this month to a reading of 76.9 from 89.1 in August, according to the University of Michigan’s monthly consumer sentiment index released Friday.

The figure was unchanged from a preliminary reading issued two weeks ago and was the biggest one-month drop since 1980.

The pessimism was enhanced by rising fuel prices and economic concerns over the fallout from Hurricanes Katrina and Rita, Bloomberg reported.