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"A comprehensive, collaborative elections resource."
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Consumer confidence sinks
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| Contributor | RP |
| Last Edited | RP Oct 26, 2004 12:18pm |
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| Category | News |
| News Date | Tuesday, October 26, 2004 06:00:00 AM UTC0:0 |
| Description | Consumer confidence fell for the third straight month in October to its lowest level since March, a survey said Tuesday, with the closely watched reading on the economy coming in weaker than Wall Street had been expecting.
The Conference Board said its consumer confidence index fell to 92.8 from a revised 96.7 reading in September. Economists surveyed by Briefing.com had forecast a drop to 94.0. The reading was the lowest since March, when the index stood at 88.5.
The decline is a potentially troubling sign for President Bush who's in a tight race against Sen. John Kerry. Since the 1968 election, a Conference Board index reading below 100 generally indicates a loss for the incumbent's party. |
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