Consumer confidence data from the Conference Board
- Prior was 125.1
- Expectations 94.9 vs 95.8 prior
- Present situation 172.3 vs 169.0 prior
- Jobs hard-to-get 11.8 vs 11.0 prior
The continued fall in expectations is especially worrisome but as you can see, the overall index remains at a high level despite the miss.
"Consumer confidence was relatively flat in October, following a decrease in September," said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. "The Present Situation Index improved, but Expectations weakened slightly as consumers expressed some concerns about business conditions and job prospects. However, confidence levels remain high and there are no indications that consumers will curtail their holiday spending."
