Confidence ticks up but still below ytd avg

The Final Oct UoM confidence reading was 60.9, 2.9 pts higher than expected, up from the preliminary report of 57.5 a few weeks ago and vs 59.4 in Sept. Both Economic Conditions and the Outlook rose from the 1st Oct data and vs Sept. One year inflation expectations at 3.2%, unchanged with the 1st Oct figure and down from 3.3% in Sept. Gasoline prices averaged $3.43 in Oct, down from $3.59 in Sept and was the main factor in the decline in inflation expectations. Bottom line, while confidence ticked higher to 60.9, it still compares unfavorably with the 10 month average ytd of 67.5. That said, as we head into the holiday season, impulse purchases and gift buying runs on its own emotion separate from overall consumer confidence.

Print Friendly, PDF & Email

What's been said:

Discussions found on the web:

Posted Under