Economists surveyed by Bloomberg expected the gauge to improve to 102.
"There is little to suggest that consumers foresee the economy gaining momentum in the final months of 2020," Lynn Franco, senior director of economic indicators at The Conference Board, said in a statement.Americans' confidence in the US economy dimmed in October as lasting weakness in the labor market curbed optimism elsewhere.declined to 100.9 from 101.3, marking a reversal from September's 15-point surge.
"There is little to suggest that consumers foresee the economy gaining momentum in the final months of 2020, especially with COVID-19 cases on the rise and unemployment still high," she added.MORGAN STANLEY: Stocks could fall another 9% as the new bull market faces a rising tide of risks — and these 2 cyclical sectors are the best long-term trades to take advantage of
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