U.S. consumer confidence declined for the third month in a row in October, according to the Conference Board.
What’s going on: The consumer confidence index fell to 102.6 this month from 104.3 in September.
- The decrease was apparent across householders aged 35 and up and was not limited to any single income bracket.
Why it’s happening: “Americans felt less optimistic in their assessments of both the current economy and the outlook,” said NAM Chief Economist Chad Moutray. “Higher prices, political uncertainty and geopolitical events continued to weigh heavily on confidence.”
However … Consumers continued to point to the jobs market as a strength, even with some loosening.