Consumer Confidence at Lowest Since Recession

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A recent CBS news release cites new Conference Board data in reporting that consumer confidence dipped in October to its lowest level since March 2009 —"an ominous sign for the economy as families begin to prepare their budgets for holiday shopping season."

The private research group's index of consumer sentiment came in at 39.8 for October, down nearly six points from last month. "The reading is still well above where the index stood two and a half years ago at 26.9," CBS notes. "But it's not even within shouting distance of 90, what it takes to signal that the economy is on solid footing." The results are based on a survey of approximately 500 randomly selected people nationwide conducted during the first two weeks of October.

Hedley Lawson, Contributing Editor