US Consumer Confidence Rises to 91.7 in October
The Conference Board's Consumer Confidence Index rose by 7.5 points to 91.7 in October, rebounding to levels seen in June. This increase was driven by improvements in both the Present Situation Index and the Expectations Index, aided in part by easing retail gasoline prices compared to September. Despite the monthly uptick, economists note that consumer confidence remains on a long-term downward trend due to persistent inflation and high costs for food and energy. While sentiment improved across political affiliations, consumers expressed concerns regarding purchasing power and indicated less planned spending on durable goods and services over the next six months.
Topics: Consumer Confidence Index economic outlook inflation labor market
Read the full article at PR Newswire
Part of the story U.S. Consumer Confidence Index Rises to 91.7 in October (2 articles)