Consumer Confidence Hits 7-Month Low
Tue Oct 26, 2004 10:23 AM ET
NEW YORK (Reuters) - U.S. consumers turned more gloomy in October, beset by soaring energy prices, relentless violence in Iraq and the increasingly bitter end of the presidential election campaign.
The Conference Board's gauge of consumer confidence fell to 92.8 in October, the lowest level in seven months, from 96.7 the prior month, the private business group said on Tuesday. The reading was below economists' expectations for a dip to 94.0.
The main index was dragged down mainly by consumer expectations, which tumbled to 92.0 from 97.7. The current conditions index slipped to 94.2 from 95.3.
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