U.S. consumer confidence falls sharply in October

Reuters

NEW YORK (Reuters) - U.S. consumer confidence fell sharply in October as consumers turned gloomier in their outlook for the future, according to a private sector report released on Tuesday.

The Conference Board, an industry group, said its index of consumer attitudes dropped to 71.2 in October from a revised 80.2 in September, previously reported as 79.7.

Economists had expected a reading of 75.0 in October.

The expectations index also sank, down to 71.5 in October from a revised 84.7 in September.

Consumers were also less optimistic about their current standing, with the present situation index down to 70.7 in October from a revised 73.5 in September.

(Reporting by Luciana Lopez; Editing by James Dalgleish)

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