Washington • Americans' confidence in the economy fell this month to the lowest level since April, as many worried about the impact of a 16-day partial government shutdown. The decline could weigh on spending and economic growth.
The Conference Board said Tuesday that its index of consumer confidence dropped to 71.2 in October, down from 80.2 the previous month. September's figure was slightly higher than initially reported.
Consumers grew particularly pessimistic in their outlook on the economy six months from now, while their assessment of current economic conditions declined by much less. They also expect less hiring in the months ahead. Consumers' confidence is closely watched because their spending accounts for 70 percent of economic activity.