Consumer confidence in the United States slid to its lowest level in six months in October, as worries about job shortages and rising prices weighed heavily on household sentiment. According to The Conference Board, the confidence index dropped to 94.6, down from 95.6 in September. Reuters
The weakest outlook was among younger adults under 35 and older adults over 55, as well as those earning below $75,000 annually. Meanwhile, higher-earning households (above $200,000) remained comparatively optimistic, helped by robust spending on luxury travel and other discretionary items. Reuters
A growing share of consumers (27.8%) now expect fewer jobs in the next six months, up from 25.7% a month ago the highest reading since April. The survey noted that references to inflation, prices and domestic politics were more frequent than usual in respondent comments. Reuters
Analysts view this data as a signal to the Federal Reserve that labour-market pressures are mounting. Even though the overall economy remains resilient, the divergence between high-income and lower-income consumer groups suggests a fragile growth path ahead.