Consumer Sentiment Slides in October

U.S. consumer confidence slipped in October as concerns about the economy grew.

The University of Michigan's consumer sentiment index fell to 87.2 from 91.2 in September. That matched the lowest level since October 2014.

Economists surveyed by The Wall Street Journal had expected a reading of 88.5.

"The October decline was due to less favorable prospects for the national economy, with half of all consumers anticipating an economic downturn sometime in the next five years for the first time since October 2014," said Richard Curtin, the survey's chief economist.

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