WASHINGTON (Reuters) – Consumer confidence fell sharply in October in three hoursS States considered crucial for the re-election of Republican President Donald Trump as fears about the outlook for the economy mounted, according to a Tuesday survey
The Conference Board findings preceded next Tuesday’s bitter battle for the White House between Trump and Democratic candidate Joe Biden Trump follows the former vice president in national opinion polls
Consumer confidence in Florida fell to 1,003 this month out of 1,144 in September Although confidence rebounded after falling when the COVID-19 pandemic swept through the state, it is close to levels seen just before the 2016 elections
In Pennsylvania, consumer confidence fell to 920 from 1,155 in September Michigan consumer confidence fell to 1,192 in October from a reading of 1,241 the previous month Confidence in the three-state swing was hampered by the lower consumer expectations
« The numbers may be jerky, but this does not bode well for Donald Trump’s re-election chances and with the squeeze in revenues and increasing cases of COVID-19, nor for the economy, » said James Knightley, international chef economist at ING in New York
Consumer confidence also fell in Ohio, Illinois and Texas this month, but edged up in New York and California
As a result, overall consumer confidence fell to 1009 in October from 1013 in September
« There is no indication that consumers are predicting the economy to gain momentum in the final months of 2020, particularly with COVID-19 cases on the rise and unemployment still high, » said Lynn Franco, senior director of economic indicators at the conference Board
All quotes were delayed for at least 15 minutes See here for a full list of exchanges and delays
Consumer Confidence Index, The Conference Board, Consumer
Global News – UA – Consumer confidence drops in US swing states ahead of presidential election
