Consumer Sentiment Drops In October

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Consumer sentiment fell from 73.5 in September to 69.4 in October. This comes despite the fact that equity markets across the world continue to go up and the DOW closing above 10,000 for the first time this year.

This was also below analyst expectations of a steady 73.5 reading.

The deceasing reading might put a damper on a stronger economic recovery, as consumers feel less optimistic they will save more and spend less.

Equities, off on the day, were little changed on the news.