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Economists are concerned that the overall economy will slow in the current October-December period in part because consumers are expected to cut back on their purchases because of the uncertainty caused by the 16-day partial government shutdown. Many are forecasting that growth will slow to between 1.5 percent and 2 percent this quarter. The Conference Board reported that Americans' confidence in the economy fell in October to the lowest level since April as many people worried about the impact of the shutdown. Consumer confidence has dropped in three of the four months since June. Falling confidence can cause Americans to spend less, which would be a blow for the economy, especially as retailers' all-important holiday shopping season gets underway. But confidence could get a boost going forward. A separate report Friday showed that the economy created 204,000 jobs in October and job growth was revised up by 60,000 in the previous two months.
[Associated
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