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US consumer confidence drops again in October
The University of Michigan survey results showed that consumer confidence in the United States significantly declined in early October, with the confidence index dropping to 46.3 points from 48.1 in September. Experts expect it to reach 47.8. This reflects increased frustration over rising living costs, especially among low-income consumers and those with smaller financial cushions, with inflation expectations for the coming year rising to 4.7% and increasing to 3.5% over the next five years, following an uptick in expectations before the outbreak of the war in the Middle East.
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