Consumer confidence in the United States fell in October for the third consecutive month, the U.S. Conference Board said today. The decline was steeper than expected.

The consumer confidence index dropped 3.9 points to 92.8, down from a revised 96.7 in September. Analysts had expected a reading of 94.

“Subdued expectations, as opposed to eroding present-day conditions, were the major cause behind October’s decline in consumer confidence,” said Lynn Franco, director of the Conference Board’s consumer research center, in a release.”

“While consumers’ assessment of the labour market this month showed a moderate improvement, the gain was not sufficient to ease concerns about job growth in the months ahead.”

The expectations index, one component of the Index that measures consumers’ outlook over the next six months, declined to 92.0 from 97.7. Meanwhile, the present situation index dipped to 94.2 from 95.3. , 2004