US October 2021 consumer confidence data
- Prior was 109.3
Details:
- Expectations 91.3 vs 86.6 prior
- Present situation 147.4 vs 143.4 prior
- Jobs hard to get 10.6 vs 13.4 prior
There was a 13-year high in short-term inflation expectations. Notably along with that was a rise in intentions to buy big-ticket items. That suggests that people are no longer anticipating prices to retrace.
"Consumer confidence improved in October, reversing a three-month downward trend as concerns about the spread of the Delta variant eased," said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. "While short-term inflation concerns rose to a 13-year high, the impact on confidence was muted. The proportion of consumers planning to purchase homes, automobiles, and major appliances all increased in October-a sign that consumer spending will continue to support economic growth through the final months of 2021. Likewise, nearly half of respondents (47.6%) said they intend to take a vacation within the next six months-the highest level since February 2020, a reflection of the ongoing resurgence in consumers' willingness to travel and spend on in-person services."
