(CercleFinance.com) – American consumer confidence deteriorated significantly in October, show the final results of the monthly survey from the University of Michigan published this Friday.
The confidence index finally came out at 63.8, a level significantly higher than its first estimate (63), but down sharply compared to the level of 67.9 reached in September.
Joanne Hsu, the author of the report, specifies that this decline was mainly fueled by the wealthiest consumers, who were affected by the recent bout of weakness in the stock markets.
The component of the judgment of households surveyed on their current situation thus fell to 70.6, against 71.1 last month, while the component of expectations fell to 59.3, after 65.8 in September.
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