"While the August decline is disappointing," he said, "I think it is only a one-month drop which will not disrupt the strong upward trend."

The confidence index fell to 98.4 this month from 107.6 in November, the fourth-largest one-month drop since the survey went monthly in 1978.

It was the sharpest one-month drop in more than four years.

In May, according to the household survey, 991,000 jobs disappeared, the largest one-month drop since the survey began in 1948.

It was the sharpest one-month drop in Presidential approval ever recorded.

The increase in New Jersey resulted from an unusual one-shot, one-month drop in May.

Existing home sales tumbled by 27 percent from June to July, representing the largest one-month drop ever recorded.

The Consumer Confidence Index plunged 24 points in October, the biggest one-month drop since the index began more than 20 years ago.

The decline was the largest one-month drop since 1935, when the Government first began tracking the price.

It was the biggest one-month drop since October 1990.