U.S. consumer confidence rebounds in October

The Conference Board announced on October 27 that its confidence index rose 7.5 points to 91.7. September’s reading was revised to 84.2. [1]

Above expectations

Reuters confirms the figures and notes that economists it surveyed had expected 81. This is an index of views, rather than a measure of consumer spending growth. [2]

A partial recovery

The preliminary survey covers October 1–21. The expectations index recovered to 72.6, only partly reversing three consecutive monthly declines. [1]

Prices remain a concern

Reuters reports that easing gasoline prices accompanied the rebound, while respondents continued to highlight living costs. Improved confidence therefore does not mean household budget pressures have disappeared. [2]