MEMO: GOVERNMENT REPORTS DROP IN CONSUMER INDEX

Consumer confidence fell in November to its lowest level in a year, and the nation's factories reported a sharp drop in demand in October further signs of continued slowing in the once red-hot U.S. economy.

The Commerce Department reported Tuesday that orders for big-ticket manufactured goods fell 5.5 percent last month, led by a big decline in orders for airplanes and the biggest plunge in orders for primary metals in almost two years. Meanwhile, the Conference Board reported in New York that its consumer confidence index slipped to 133.5 in November, its lowest reading since October 1999.