Consumer confidence bottoms out - Bizjournals.com

The nation’s financial crisis took a massive toll on consumers’ economic outlook this month, sending the Conference Board’s monthly confidence index to its lowest point yet.

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The index, which gauged opinions on business conditions, the labor market and inflation from 5,000 U.S. households through Oct. 21, fell to 38 from 61.4 in September. That’s the third-largest month-to-month decline and the lowest total the Conference Board has ever recorded. Its previous historic lows were in May and June. The overall index is a combination of a confidence score on present conditions, which fell to 41.9 from 61.1 in September, and future expectations, which dropped to 35.5 from 61.5.

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