Consumer confidence index falls in October

The Conference Board’s consumer confidence index came in at 97.6.

Economists had expected the index to remain unchanged from the prior period at 103.

The Conference Board’s Lynn Franco said in the report:

Consumer confidence declined in October, following September’s modest gain. Consumers were less positive in their assessment of present-day conditions, in particular the job market, and were moderately less optimistic about the short-term outlook. Despite the decline, consumers still rate current conditions favourably, but they do not anticipate the economy strengthening much in the near-term.

More to come …

NOW WATCH: 5 Ways Supermarkets Trick You Into Spending More Money

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.