For the third month in a row, consumer confidence took a tumble according to a private research group known as The Conference Board. Their consumer confidence index is now at 92.8, down from 96.7 in September. Their benchmark is the 100-point mark set in 1985. The survey is based on a sample of several thousand U.S. households. Additional indices that dropped were the expectation index (down from 97.7 to 92) and the present situation index (down from 95.3 to 94.2).

"Subdued expectations, as opposed to eroding present-day conditions, were the major cause behind October's decline in consumer confidence," said Lynn Franco, director of The Conference Board's Consumer Research Center. "And, while consumers' assessment of the labor market this month showed a moderate improvement, the gain was not sufficient to ease concerns about job growth in the months ahead."

If you want write the news for our site please e-mail inf@everythingre.com

To discuss this article Click Here to go to our Online Forum