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Home / Business / US consumer confidence for October comes in at 125.9, compared to 128 expected

US consumer confidence for October comes in at 125.9, compared to 128 expected



A woman is shopping in a Walmart Supercenter store in Rosemead, California.

Frederic J. Brown | AFP | Getty Images

U.S. Consumer confidence dipped a little in October as worries about business conditions and employment prospects rose, according to data from the Conference Board released Tuesday.

Conference Board Consumer Confidence Index fell to 125.9 this month from a reading of 126.3 in September. Economists polled by Dow Jones expected a pressure of 1

28.

October's pressure was the lowest since June, when confidence fell to 124.3.

Lynn Franco, director of financial indicators at the conference board, said in a statement that consumers feel good about current conditions, but future expectations lowered a bit "as consumers expressed some concerns about business conditions and job opportunities."

"However, confidence levels are still high and there are no indications that consumers will reduce holiday expenses," Franco added.

President Donald Trump said in a tweet that the report was "very good."

Tuesday's report comes ahead of an important announcement by the Federal Reserve on Wednesday. The Fed is expected to cut interest rates by 25 basis points for the third time in 2019.

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