Consumer confidence shows unexpected drop in October

10/28/2009 | New York Times (tiered subscription model), The

A bleak jobs outlook pushed consumer confidence down in October, according to the Consumer Confidence Index, which was released by The Conference Board on Tuesday. The decline to 47.7 was unexpected and put the index at its second-lowest level since May. Analysts had expected a reading of 53.1. A reading above 90 means the economy is on solid footing. Above 100 signals strong growth.

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New York Times (tiered subscription model), The