Consumer confidence dropped sharply in October in three U.S. states considered crucial for Republican President Donald Trump's re-election as fears about the economy's outlook mounted, according to a survey on Tuesday.
The Conference Board's findings came ahead of next Tuesday's fiercely contested battle for the White House between Trump and Democratic nomineee Joe Biden. Trump is trailing the former vice president in national opinion polls.Consumer confidence in Florida dropped to a reading of 100.3 this month from 114.4 in September. Though confidence has rebounded after slumping as the COVID-19 pandemic swept across the state, it is near levels seen just before the 2016 election.
"The numbers can be choppy, but this does not bode well for Donald Trump's chances of re-election and with incomes being squeezed and COVID-19 cases on the rise, neither for the economy," said James Knightley, chief international economist at ING in New York.
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