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The Conference Board Consumer Confidence Index® declined moderately in October to 102.6 (1985=100), down from an upwardly revised 104.3 in September. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—declined to 143.1 (1985=100) from 146.2. The Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—fell slightly to 75.6 (1985=100) in October, after declining to 76.4 in September. The Expectations index is still below 80—the level that historically signals a recession within the next year. Consumer … (full story)
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Conference Board Confidence Weakens Again In October, Inflation Expectations Jump
After eaching two year highs in July, The Conference Board consumer confidence survey has fallen for 3 straight months, declining from 104.3 (revised higher) in September to 102.6 in October (better than the 100.5 exp though). Both Present Situation (lowest since Nov 2022) and Expectations also fell (lowest since May), dragging the headline down to its lowest since May. “Write-in responses showed that consumers continued to be preoccupied with rising prices in general, and for grocery and gasoline prices in particular,” said Dana Peterson, Chief Economist at The Conference Board. “Consumers also expressed … (full story)
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