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US consumer confidence slips in October as worries over jobs persist
- The Conference Board reported Tuesday that the consumer confidence index fell by 1 point to 94.6 in October from an upwardly revised September reading of 95.6, while economists surveyed by Dow Jones Newswires and The Wall Street Journal had expected no change.
- Inflation worries persisted this month as inflation expectations rose to 5.9% from 5.8%, while tariff mentions declined but remained elevated this month.
- Consumers reported mixed signals as the consumers' assessment of current situation rose, while the short-term expectations measure dipped to 71.5, remaining well below 80.
- The government shutdown emerged as a central worry, with non-essential US government services halted and federal employees asked to work without pay since October 1, contributing to weaker consumer confidence.
- Conference Board senior economist Stephanie Guichard said, `Consumer confidence moved sideways in October, only declining slightly from its upwardly revised September level,' and added, `Changes to the individual subcomponents were also limited and largely cancelled each other out,' while inflation expectations at 5.9% and tariff mentions this month remain elevated.
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49 Articles
Coverage Details
Total News Sources49
Leaning Left10Leaning Right4Center29Last UpdatedBias Distribution68% Center
Bias Distribution
- 68% of the sources are Center
68% Center
L 23%
C 68%
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