Consumer Confidence Falls in October

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.S. consumer confidence fell in October following an increase in September, the New York-based Conference Board said Tuesday.

The board’s index slipped to 105.4 from a revised level of 105.9 in September, the group said in its monthly report.

The gauge averaged 105.4 in the first nine months of 2006, Bloomberg said.

The consumer confidence index is a predictor of consumer spending. When people are feeling less confident about the economy, they are less likely to spend money, which decreases demand for trucking services.

The survey’s present-situation index decreased to 124.7 from 128.3. A gauge of consumer expectations for the next six months rose to 92.6 from 91 last month.

Every month the Conference Board surveys 5,000 households on general economic conditions, their employment prospects and spending plans.