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  • Consumer Confidence Dips Due to Jobs - And the Price of Oil?

    10/28/2009 3:16:55 AM PDT · by Son House · 23 replies · 1,501+ views
    Seeking Alpha ^ | October 28, 2009 | Seeking Alpha
    U.S. consumers turned decidedly more pessimistic in October, according to a report released Tuesday, with households increasingly worried about job prospects. The Conference Board, a private research group, said its monthly Consumer Confidence Index fell to 47.7 this month, from a revised 53.4 in September, which was originally reported as 53.1. The current month's reading was well below economists' projections of 53.2, according to a survey conducted by Dow Jones Newswires. The downturn in consumer confidence at this stage of the recovery is to be expected, as it has occurred in previous recoveries (please see chart below), and does not...