US consumer confidence returns to downward slide

Recession fears continue

Consumer confidence in the US began declining again in October, after seeing strong growth in August and September.

The Conference Board's monthly survey showed that the consumer confidence index fell to 102.5, down from 107.8 in September and below expectations of 105.9. Most notably was a growth in concerns about inflation, which had been receding since July, driven by fears of gasoline and food price increases. The most recent inflation report from the Bureau of Labor Statistics showed that while inflation in energy prices continued to decline, ‘core inflation' in goods such as food and shelter was continuing to stay persistently high.   UK consumer confidence plummets to record low in Sept...