US consumer confidence falls more than forecast in October
US consumer confidence fell more than expected in October as the assessment of current business and employment conditions softened, data revealed on Tuesday.
The Conference Board’s consumer confidence index dropped to 98.6 in October from 103.5 in September, worse than forecasts of 101. The reading for September was revised down from a previous 104.1.
Sentiment regarding the current assessment and the short-term outlook on business and employment conditions retreated.
However, Pantheon Macroeconomics believes overall confidence remains “good enough to support decent growth”, provided the October drop is not followed by further significant declines. “We don't expect that.”