Economic confidence has dropped to a record low in the face of the 4.2 per cent unemployment rate, a survey has shown. The Hong Kong Policy Research Institute found the confidence index had dipped to 79.8 since the announcement of the 15-year high jobless figure this week. This is down from 82.2 during the second wave of the financial crisis in January. From 100 in April 1996, the index rose to a peak of 105.7 in October last year and fell to 84.2 shortly after official confirmation of negative growth a few weeks ago. Confidence in tackling unemployment fell from 43.1 at the end of May to 36.3. The index was complied after a telephone survey of 983 respondents aged between 18 and 64.