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>- The headquarters building of Peoples Life Insurance Co. at 601 New Hampshire Ave. NW, where 365 persons are employed. In the background is the Watergate complex.</br></br>BRUSSELS, Jan. 3ÛÓThe European Commission today reported a sharp deterioration in consumer confidence in the economies of the European Economic Community, dashing any immediate hopes of a consumer-led recovery from recession.</br></br>The commission said its latest survey of consumer confidence showed that last summerÛªs shortlived optimism about an economic upturn had completely evaporated by October.</br></br>The survey coincided with a separate commission report indicating the economies of the 10 EEC members may have shrunk by as much as</br></br>With people worried about maintaining their incomes amid continuing recession and rising unemployment, no immediate expansion in consumersÛª demand was likely.