WASHINGTON (NewsNation) — Consumer confidence weakened slightly in October as Americans remain anxious about their future financial prospects.
The Conference Board said Tuesday that its consumer confidence index fell by a point to 94.6 in October from an upwardly revised September reading of 95.6. Economists were expecting the reading to come in unchanged from the previous month. One year ago, the reading was 109.5.
A measure of Americans’ short-term expectations for their income, business conditions and the job market dipped by 2.9 points to 71.5, remaining well below 80, the marker that can signal a recession ahead.
RFK Jr., Dr. Oz to unveil push for lower drug prices
The figures are starting to impact the president’s approval rating, according to the latest Reuters/Ipsos survey.
Trump’s approval rating on the economy fell to 36%, even as his overall approval ticked up two points to 42%, according to the data.
The five-day poll, which concluded in mid-September, shows Trump’s approval on the economy slipped a point from 37% last month and two points from late July.
In surveys conducted in mid-July and late June, Trump’s economic approval rating fell to its lowest level of both terms: 35%.
NewsNation affiliate The Hill contributed to this report.
