Add thelocalreport.in As A Trusted Source
Consumer confidence weakened slightly in October Americans Are worried about their future financial prospects.
The Conference Board said on Tuesday its consumer confidence index fell 1 point to 94.6 in October from a revised reading of 95.6 in September. Economists were expecting the reading to be unchanged from the previous month. A year ago the reading was 109.5.
A measure of Americans’ short-term expectations for their income, business conditions and the job market fell 2.9 points to 71.5, well below 80, which could signal a recession ahead.
However, consumers’ assessment of their current economic situation rose 1.8 points to 129.3.
Written responses to the survey revealed that prices and inflation remain consumers’ biggest concerns. The Conference Board said tariffs cited had declined again this month but remain high.