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Tuesday, October 30, 2007 11:14:24 AM Tuesday morning, the Conference Board released its report on consumer confidence in the month of October, showing that its consumer confidence index fell for the third
consecutive month to hit a new twoyear low.
The Conference Board said its consumer confidence index fell to. 95.6 in October from a downwardly revised 99.5 in September.
Economists had expected the index to edge down to 99.5 from the 99.8 originally reported for the previous month.
With the decrease, the index fell to its lowest level since a reading of 85.2 in October of 2005, when consumer account forex islamic trading Growth in the months ahead.? The report showed that the present situation index fell to 118.8 in October from 121.2 in September, as those claiming conditions are good fell to 23.4 percent from 25.7 percent in the previous month. Consumers were also less upbeat in their appraisal of the job forex account Market, as those saying jobs are hard to get rose to 22.6 percent in October from 22.4 percent in September and those saying jobs are plentiful fell to 24.1 percent from 25.6 percent. Additionally, the Conference Board said that the expectations index fell to 80.1 October from 85.0 in September.. Franco said, ?Consumers are growing more pessimistic about the shortterm future and their rather bleak outlook suggests a less than stellar ending to this year.? Those expecting business conditions to worsen in the next six months rose to 13.8 percent in October from 11.9 percent in September, while those expecting account forex islamic trading Conditions to improve declined to 13.7 percent from 15.7 percent. The outlook for the labor market was also less optimistic. Tuesday, October 30, 2007 11:29:14 AM Oil remained lower on Tuesday in U.S. trading as investors await key reports on Wednesday. Light sweet crude for December delivery traded at 91.94,.
For the first time. In the afternoon, all eyes will be on the Federal Open Market Committee when it concludes its meeting with an interest rate decision. Most experts are predicting a cut of 25 basis points. On Monday, crude closed above 93 a barrel and continued its march towards. |