US CB Consumer Confidence Index Edges Lower in October

Consumer confidence in the US weakened sharply in October with the Conference Board’s Consumer Confidence Index edging lower to 100.9 from 101.3 (revised from 101.8) in September. This reading came in worse than Reuters’ estimate of 102.

Further details of the publication showed that the Consumer President Situation Index climbed to 104.6 from 98.9, the Consumer Expectations Index declined to 98.4 from 102.9. Finally, the 1-year Consumer Inflation Rate Expectations ticked down to 5.6% from 5.7%.