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Consumer Sentiment in U.S. Unexpectedly Drops as Outlook Sours

From bloomberg.com

Consumer confidence unexpectedly fell to a one-year low in October as Americans soured on the outlook for the economy amid a contentious presidential election campaign. The University of Michigan preliminary index of sentiment declined to 87.9 from 91.2 in September, according to a report Friday. That was weaker than the lowest estimate in a Bloomberg survey of economists. A sustained acceleration in worker pay has remained elusive even as companies keep adding jobs as a solid pace, and political uncertainty may be restraining confidence. At the same time, still-cheap fuel costs and improving employment prospects ... (full story)

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