Reuters

(Reuters)

Consumer Confidence Retreats in October

Politics Dow Jones Newswires

U.S. shoppers darkened their outlook in October, suggesting a bumpy road ahead for an economy largely reliant on consumer spending.

The Conference Board, a private research group, said Tuesday its index of consumer confidence fell to 97.6 in October from a revised 102.6 in September. The initial September reading was 103.0.

Economists surveyed by The Wall Street Journal had expected a reading of 102.8.

"Despite the decline, consumers still rate current conditions favorably, but they do not anticipate the economy strengthening much in the near-term," said Lynn Franco, director of economic indicators at the board.

Write to Anna Louie Sussman at anna.sussman@wsj.com

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