October 27th, 2009 by 
Stocks reversed course this morning as Consumer Confidence Index Data came out well below expectations.
The Index came out at 47.7, which is down from 53.4 in September and 54.5 in August. Economists had expected the index to rise to 54.0 after a decline last month. The trend here is clearly moving lower and does not bode well for the Stock Market going into year end.
This is the lowest reading now since July 2009 when it came in at 47.4. Going back further, the next lowest reading was in April 2009 at 40.8.
Chart Courtesy of Briefing.com
Consumers are obviously still worried about business and labor conditions and it’s quite possible as labor conditions continue to remain poor, consumers still have more to cut back over the coming months.
