Consumer Confidence Falls in October

New York, NY, Oct. 27, 2009--Consumers confidence about the U.S. economy fell unexpectedly in October as job prospects remained bleak.

The Conference Board's Consumer Confidence Index shows Americans are as worried about the economy's current state as they've been in nearly three decades. They also have a grim outlook for the future, expecting a worsening business climate, fewer jobs and lower salaries.

That sentiment drove Tuesday's results, which showed the index falling to 47.7 in October.

Analysts expected a reading of 53.1.

A reading above 90 means the economy is on solid footing. Above 100 signals strong growth.

The index has seesawed since a historic low of 25.3 in February and climbed to 53.4 in September.