WASHINGTON (Reuters) – U.S. consumer confidence declined for a third straight month in October amid persistent worries about inflation, higher borrowing costs and the political environment, a survey showed on Tuesday.
The Conference Board said its consumer confidence index fell to 102.6 this month from an upwardly revised 104.3 in September. Economists polled by Reuters had forecast the index slipping to 100.0 from the previously reported 103.0.
“Write-in responses showed that consumers continued to be preoccupied with rising prices in general, and for grocery and gasoline prices in particular,” said Dana Peterson, chief economist at The Conference Board. “Consumers also expressed concerns about the political situation and higher interest rates. Worries around war/conflicts also rose, amid the recent turmoil in the Middle East.”
(Reporting by Lucia Mutikani; Editing by Chizu Nomiyama)