Grant Thornton said that its Business Optimism Index has hit an all-time low, the lowest point since the accounting firm introduced the semiannual confidence measure in May 2002.

The firm said that the index dropped from 64.1 in November 2006 to a current level of 59.5. However, the index has been declining steadily since it hit a high of 75.6 in November 2003.

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