The confidence American consumers felt earlier this year appears to be fading as fears continue over a potential recession.
The Conference Board, a global nonprofit think tank and business membership organization, said Tuesday that its consumer confidence index fell to 102.6 from 104.3 in September, the Associated Press reported.
The index measures consumers’ assessment of current economic conditions and what they think about the next six months.
The index measuring Americans short-term outlook for income, business and job market declined again, to 75.6 in October from 76.4 in September. Readings below 80 for future expectations historically signal a recession within a year, the AP reported.
Consumers’ view of current conditions also fell this month, to 143.1 from 146.2 in September.
