Consumer Confidence Hits a Seven-Year Low

New York—Consumer confidence in October sank to its lowest level in more than seven years, according to research group The Conference Board. The group’s Consumer Confidence Index fell to 85.5 from 97 in September. The October score is the lowest since February 1994. The Conference Board results contradict the consumer sentiment index compiled by the University of Michigan. Last week the university reported a marginal uptick in consumer confidence, to 82.7 in October from 81.8 in September.

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