Conference Board delays Consumer Confidence Index

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NEW YORK (AP) – The Conference Board is delaying the release of its Consumer Confidence Index for October until Thursday because of Superstorm Sandy.

The survey was scheduled to be released Tuesday morning, but the Conference Board says it decided on the delay to help assure the safety of its staff and people who follow the index. The storm has left transportation difficult or impossible in many places and millions of people without power.

Dozens of companies have also postponed their quarterly earnings reports.

The Consumer Confidence Index is watched closely because consumer spending drives nearly 70 percent of economic activity.

The index has fluctuated sharply this year. It has fallen five times in the past nine months, hitting a low for the year in August before rising in September.

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