In October 2025 the Conference Board’s consumer-confidence index dropped to 94.6 from 95.6 in September, the weakest reading since early this year. Short-term expectations for income, business conditions and employment fell to 71.5—below the key threshold of 80 that often signals recession risk. Consumers cited inflation and job worries as chief concerns. Although the current situation reading edged higher, weak expectations indicate sentiment may soften further. Economists say this adds to mounting pressure on Federal Reserve to consider rate cuts.