U.S. Consumer Confidence Index Nears Historical Low

In October, the U.S. Consumer Confidence Index slightly declined to 48, approaching a historical low. The University of Michigan's consumer survey indicated that the index fell from 48.1 in September to 48, below economists' forecast of 46.3. The current index is 10% lower than a year ago and 15% lower than in February, prior to the conflict in Iran.