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Consumer confidence about the nation’s economic conditions for the remainder of the year plunged in August to a record low, Nippon Research Institute said Monday.

The consumer sentiment index, designed to rise above 100 when a majority of consumers expect worse economic conditions in the year ahead, jumped 16 points from June to 148, hitting its highest level since the Cabinet Office-affiliated institute began its bimonthly survey in April 1977, NRI said.

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