- Prior was 93.2
Details:
- Present situation 129.3 vs 125.4 prior
- Expectations 71.5 vs 73.4 prior
- Jobs hard-to-get 18.4% vs 18.2% prior
The September reading was the worst since April so this isn't exactly a reason for celebration but it's a step in the right direction from a poor base.
“Consumer confidence moved sideways in October, only declining slightly from its upwardly revised September level,” said Stephanie Guichard, Senior Economist, Global Indicators at The Conference Board. “Changes to the individual subcomponents were also limited and largely cancelled each other out. The Present Situation Index regained some strength after September’s drop. Consumers’ view of current business conditions inched upward, while their appraisal of current job availability improved for the first time since December 2024. On the other hand, all three components of the Expectations Index weakened somewhat. Consumers were a bit more pessimistic about future job availability and future business conditions while optimism about future income retreated slightly.”
Here is an idea that everyone is going to need to get used to:
By income, confidence fell for consumers making less than $75K a year, but improved for most of the income groups making more than $75K, with the largest increase among those earning over $200K.
See: The real reason that the US economy is so strong is that the rich are getting richer
