The Conference Board announced on Tuesday its U.S. consumer confidence gauge fell 0.4 points to 125.9 in October from 126.3 in September.

Economists had expected consumer confidence to come in at 128.0.

September’s consumer confidence reading was revised up from originally estimated 125.1.

The survey showed that the expectations dropped from 96.8 last month to 94.9 this month, while the present situation index rose from 170.6 to 172.3.

Lynn Franco, Senior Director of Economic Indicators at The Conference Board, noted, “Consumer confidence was relatively flat in October, following a decrease in September. The Present Situation Index improved, but Expectations weakened slightly as consumers expressed some concerns about business conditions and job prospects. However, confidence levels remain high and there are no indications that consumers will curtail their holiday spending.”