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The Boston Globe

Business

Consumer confidence drops as Americans brace for higher payroll tax

WASHINGTON — Consumer confidence slumped last week to the lowest level in a month as Americans prepared to lose a portion of their pay to taxes.

The Bloomberg Consumer Comfort Index fell to minus 34.4 in the seven days ended Jan. 6, from minus 31.8, for the biggest one-week drop since August. All three components of the measure declined.

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