US consumer confidence improves in October
SPY•The Conference Board’s consumer confidence index rose to 91.7 in October from an upwardly revised 84.2 in September, above economists’ 81 forecast. Easing gasoline prices accompanied the recovery, while consumers continued to express frustration with rising costs.
1. Confidence rises
The Conference Board said its consumer confidence index increased to 91.7 in October from an upwardly revised 84.2 in September. Economists polled by Reuters had forecast 81, after a previously reported September reading of 81.9.
2. Costs remain a concern
The Conference Board’s Fergus McCormick said the recovery was in line with retail gasoline prices easing from September to October. Consumers continued to express frustration with rising costs, including food and grocery prices and oil and diesel prices.
