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The University of Michigan consumer confidence index for October was down to 87.5 in preliminary readings, a significant drop from September’s 94.2.

Also off were the consumer expectations index (down to 79.6 from September’s 88.0) and current condition index (down to 99.6 from September’s 103.7).
KC's View:
No surprise here that consumer confidence isn’t what we would like it to be. We still know way too many people who are out of work and feeling a little desperate.

They could call it a “consumer desperation index,” but it’d be way too depressing.