The U.S. Consumer Confidence Index is close to a historical low

In October, the U.S. Consumer Confidence Index slightly declined to 48, nearing a historical low. The University of Michigan Consumer Survey indicated that the index fell from 48.1 in September to 48, below economists' forecast of 46.3.

The current index is 10% lower than a year ago and 15% lower than in February, before the conflict in Iran.