U.S. consumer confidence declined to a reading of 71.2 (1985=100) in October, The Conference Board reports. This is a sharp fall from September revised reading of 80.2 and is the lowest that consumer confidence has been since April.
The present situation index decreased to a reading of 70.7 from 73.5. The real shift in confidence was due to a perceived difficult road ahead though, as the expectations index sank to reading of 71.5 from 84.7. That is the lowest expectations have been since March.