(Washington, DC) — Consumer confidence unexpectedly rose in October. The Conference Board’s lead index improved seven-and-a-half points from September. The board’s senior economist Fergus McCormick said the recovery was “in line” with easing gas prices. But he also noted overall confidence “remained on the long-term downward trend” of the past few years. The survey found consumers planned less spending on services and durable goods over the next six months. It concluded that’s likely due to higher prices and persistent inflation.
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