(Finance) – American consumer confidence is falling. The US Conference Board survey on consumer sentiment reported a drop in the index to 102.5 points in the month of October 2022 compared to 107.8 points in September (revised figure from 108 points). The figure is even worse than analysts’ expectations who were for an index down to 106.5 points.
In the same period the index on the present situation goes to 138.9 points from 150.2 previously, while the index on waited dropped to 78.1 points from 79.5 points.
“Consumer confidence declined in October, after rising in August and September,” said Lynn Franco, Senior Director of Economic Indicators at The Conference Board.index of the current situation fell sharply, suggesting that economic growth slowed to begin the fourth quarter. Consumer expectations regarding the short-term outlook remained negative. The Expectation Index is still below a reading of 80, a level associated with the recession, suggesting that the risks of recession appear to be on the rise“.
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