Consumer Confidence Declines Again

New York, NY, October 30, 2007--The Conference Board Consumer Confidence Index, which has been declining since August, fell further in October. The Index now stands at 95.6 (1985=100), down from 99.5 in September.

The Consumer Confidence Survey is based on a representative sample of 5,000 U.S. households.

"Consumer Confidence posted its third monthly decline and continues to hover at two-year lows,” said Lynn Franco, director of The Conference Board Consumer Research Center:

“Further weakening in business conditions has, yet again, tempered consumers' assessment of current-day conditions and may very well be a prelude to lackluster job growth in the months ahead. In addition, consumers are growing more pessimistic about the short-term future and their rather bleak outlook suggests a less than stellar ending to this year."

Consumers' assessment of present conditions weakened further in October. Those claiming conditions are "good" decreased to 23.4% from 25.7%. However, those saying conditions are "bad" decreased to 16.3% from 17.8%. Overall, consumers were less upbeat in their appraisal of the job market. Those saying jobs are "hard to get" increased to 22.6% from 22.4%. Those claiming jobs are "plentiful" decreased to 24.1% from 25.6% in September.