Updated: 29-Oct-24 10:20 ET
| October Consumer Confidence |
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| Updated: 29-Oct-24 10:20 ET |
Highlights
- The Conference Board's Consumer Confidence Index jumped to 108.7 in October (Briefing.com consensus 99.0) from an upwardly revised 99.2 (from 98.7) in September.
- The increase in October marked the strongest monthly gain since March 2021.
Key Factors
- The Present Situation Index jumped to 138.0 from 123.8 in September.
- The Expectations Index increased to 89.1 from 82.8 in September.
- Average 12-month inflation expectations increased to 5.3% from 5.2%.
Big Picture
- The key takeaway from the report is that the increase in confidence in October was broad-based across all age groups and most income groups, and featured a substantially more optimistic view about future business conditions than the prior month. That sets up to be a supportive component for consumer spending.
| Category | OCT | SEP | AUG | JUL | JUN |
| Conference Board | 108.7 | 99.2 | 105.6 | 101.9 | 97.8 |
| Expectations | 89.1 | 82.8 | 86.3 | 81.1 | 72.8 |
| Present Situation | 138.0 | 123.8 | 134.6 | 133.1 | 135.3 |
| Employment ('plentiful' less 'hard to get') | 18.3 | 12.7 | 15.9 | 17.1 | 19.8 |
| 1 yr inflation expectations | 5.3% | 5.2% | 5.0% | 5.3% | 5.4% |