The decline was driven by weaker assessments of current and future financial conditions, which fell by 12 points and eight points respectively, while pessimistic views about the outlook were largely unchanged. October's reading was approaching the deep-pessimistic levels seen in April and May when the US–Iran war broke out, the organisation said. Konstantinos Panitsas, economist at The Conference Board, said in a press release, "Euro Area consumer confidence declined for a second consecutive month in October as households continue to contend with renewed price pressures, slower wage growth, and significant uncertainty over how higher energy prices will affect the bloc’s growth outlook.
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