The Conference Board released the U.S. Consumer Confidence Index for October
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The Conference Board released the U.S. Consumer Confidence Index for October, which rose 7.5 points to 91.7 from an upwardly revised 84.2 in September, significantly beating market expectations of 81.0 and hitting a new high since June. The survey was conducted from October 1 to 21, and the rebound in confidence was mainly driven by falling gasoline prices; the index of consumers' assessment of current business and labor market conditions rose to 120.4, while the short-term outlook index for income, business, and labor market conditions rose to 72.6, only partially reversing the previous three consecutive months of decline. ZeroHedge relayed that the index remains in a long-term downtrend, and consumer dissatisfaction with rising prices remains prominent.
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- ZeroHedgeU.S. Consumer Confidence in October Rebounds Sharply from COVID-19 Lows
The Conference Board's consumer confidence index for October rose 7.5 points to 91.7 from 84.2 in September, hitting a new high since June and significantly exceeding the market expectation of 81.0. The survey period was from October 1 to 21. The rebound in confidence was mainly due to falling gasoline prices, but it remains in a long-term downward trend, and consumers' dissatisfaction with rising prices remains prominent.
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