United States: Consumer confidence declines to lowest level since the recession
October 15, 2011
In October, the Conference Board consumer confidence index dropped to 39.8 points, which came in well below the 46.4 points observed in August (previously reported: 45.4 points). The subdued reading represented the lowest level since March 2009 and defied market expectations that had the index virtually unchanged at 46.0 points. According to the Conference Board, ?consumer expectations, which had improved in September, gave back all of the gain and then some, as concerns about business conditions, the labor market and income prospects increased." In addition, respondents' assessment of current conditions declined further, with nearly 50% saying jobs are "hard to get".