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News Link • Economy - Economics USA

October consumer confidence slips unexpectedly

• AP
Consumer's confidence about the U.S. economy fell unexpectedly in October as job prospects remained bleak, a private research group said Tuesday, fueling speculation that an already gloomy holiday shopping forecast could worsen.

The Consumer Confidence Index, released by The Conference Board, sank unexpectedly to 47.7 in October — its second-lowest recording since May.

Wall Street analysts predicted a reading of 53.1.

A reading above 90 means the economy is on solid footing. 

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