US consumer confidence slipped in October amid factors such as soaring energy prices, violence in Iraq and the increasingly bitter presidential election campaign.
The Conference Board's gauge of consumer confidence fell to 92.8 in October, the lowest level in seven months, from 96.7 the prior month, the private business group said today.
The reading was below economists' expectations for a dip to 94.0. But in a slightly positive sign, fewer consumers said jobs were "hard to get," at 27.8 per cent, compared with 28 per cent the prior month.
Despite a strong pace of economic growth, businesses have been very cautious about hiring workers while faced with record oil prices and steep health care costs.
"While consumers' assessment of the labor market showed a moderate improvement, the gain was not sufficient to ease concerns about job growth in the months ahead," said Ms Lynn Franco, director of the Conference Board's Consumer Research Center.