(The Conference Board) US Consumer Confidence Index rose from a three-month low of 109.8 in September to a high of 113.8 in October.
The Present Situation Index rose from 144.3 in September to 147.4 in October, reflecting improved consumers’ assessment of existing labor and business market conditions.
Consumers project an improved short-term outlook in business, income, and labor market conditions, with the Expectations Index increasing from 86.7 in September to 91.3 in October.
The Conference Board’s senior director Lynn Franco expects an improvement in consumer spending in the next months of the year to continue supporting the economy, despite the inflation hitting a 13-year high.
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