Consumer-confidence index slips to 102.6 from 104.3
The numbers: A survey of consumer confidence fell to a five-month low of 102.6 in October amid worries about inflation, rising interest rates and fighting between Israel and Hamas.
Key details: A measure that looks at how consumers feel about the economy right now declined to 143.1 from 146.2 in the prior month.For the past two months, the future-expectations index has been below the 80 mark that often signals a recession ahead. The labor market is very healthy, however, and jobs are easy to find. The unemployment rate sits at an extremely low 3.8%.
Looking ahead: “Consumers continued to be preoccupied with rising prices in general, and for grocery and gasoline prices in particular,” said Dana Peterson, chief economist at the Conference Board.
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