Measure of Consumer Confidence Falls in October

New York, NY, Oct. 15, 2008--One measure of U.S. consumer confidence fell in October from an 11-month high in September, as the financial market turmoil stoked worries about the economy, according to a new survey.

Investor's Business Daily and TechnoMetrica Market Intelligence said their IBD/TIPP Economic Optimism Index fell to 41.1 in October from 45.8 in September which was the highest since October 2007. It held above a record low of 37.4 set in July.

The index has been stuck below 50, which indicates pessimism among survey respondents, for more than a year.

"Consumers are reacting to the Wall Street meltdown and the global financial turmoil with uncertainty and trepidation, and that's reflected in October's drop," Raghavan Mayur, president of TIPP, said in a press release.