Economic Buzz: US Consumer Confidence Slumps To 102.5 In October

27 Oct 2022 , 08:49 AM

A report released by the Conference Board showed U.S. consumer confidence pulled back by much more than expected in the month of October. The Conference Board said its consumer confidence index slumped to 102.5 in October from a revised 107.8 in September. The bigger than expected pullback by the headline index came as the present situation index tumbled to 138.9 in October from 150.2 in September, suggesting economic growth slowed to start the fourth quarter. The expectations index also slipped to 78.1 in October from 79.5 in September, with a reading below 80 associated with recession. Powered by Commodity Insights