Consumer Confidence Tumbles in October

New York, NY, Oct. 25, 2011 -- Consumer confidence unexpectedly declined in October to the lowest level since March 2009, according to the Conference Board.

The group's sentiment index decreased to 39.8 from a revised 46.4 reading in September.

This month’s reading was worse than the most pessimistic forecast in a survey of economists, which expected a reading of 46.

Sentiment was hurt by a poor job market, falling home values and economic turmoil in Europe.