Washington, Oct 27 (AFP/APP):US consumers were feeling less confident in October, a survey said on Tuesday, as rising coronavirus cases and a lack of economic stimulus clouded the forecast for the months ahead. The Conference Board’s Confidence Index was at 100.9 this month, below expectations for it to increase further after it jumped to a downwardly revised 101.3 in September. The survey found consumers’ perceptions of current business conditions improving, but the survey’s weakness came from a worsening outlook for the months ahead as the United States struggles with renewed Covid-19 outbreaks and Congress’s apparent failure to agree on new stimulus ahead of the November 3 presidential election. “Consumers’ assessment of current conditions improved while expectations declined, driven primarily by a softening in the short-term outlook for jobs,” The Conference Board’s Senior Director of Economic Indicators Lynn Franco said. “There is little to suggest that consumers foresee the economy gaining momentum in the final months of 2020, especially with Covid-19 cases on the rise and unemployment still high.” The Present Situation index increased to 104.6 from 98.9 in September, as fewer consumers said business conditions were “bad,” and more people viewed jobs as “plentiful.” However, the Expectations Index measuring views … Continue reading US consumer confidence falls as outlook turns gloomy