X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK – The Consumer Confidence Index dropped to 79.4 in October, the lowest level it’s reached since November 1993, according to The Conference Board’s monthly survey. Consumer confidence has been steadily dropping for four consecutive months. In September it was 93.7. According to The Conference Board survey, respondents rating current business conditions as “bad” increased to 27.6% from 23.8% in September. Those rating current conditions as “good” decreased to 15.6% from 18.5%. In addition, consumers reporting jobs are hard to get rose to 27.3% from 25.4% in September, while those claiming jobs were abundant dropped to 14.8% from 15.9% in September. Consumers’ expectations for the next six months also fell in October’s survey. The percent of respondents expecting a further deterioration in business conditions in the next six months rose to 14.1% from 9.7%, while those expecting conditions to improve fell to 19% from 21.6% The percent of consumers expecting more jobs to become available dropped to 15% from 17.3%, while those expecting fewer jobs rose to 22.1% from 16.8%. The Conference Board Director Lynn Franco said a weak labor market, the threat of military action in Iraq and a prolonged decline in the financial markets have dampened consumers’ confidence and their expectations for the near future.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.