New York [US], October 29: The U.S. Conference Board Consumer Confidence Index released on Tuesday stood at 94.6 in October, down one point from upwardly revised 95.6 in September, but better than the market expectations of 93.4.
The Present Situation Index, based on consumers' assessment of current business and labor market conditions, gained 1.8 points to 129.3. The Expectations Index, based on consumers' short-term outlook for income, business and labor market conditions, declined by 2.9 points to 71.5.
Expectations have been below the threshold of 80 that typically signals a recession ahead since February 2025.
"Consumer confidence moved sideways in October, only declining slightly from its upwardly revised September level," said Stephanie Guichard, senior economist at The Conference Board.
As all three components of the Expectations Index weakened somewhat, "consumers were a bit more pessimistic about future job availability and future business conditions while optimism about future income retreated slightly," Guichard said.
The consensus among economists looked for 93.4 in October, as against 94.2 in September and 97.8 in August, showing consumers are gloomy about current conditions and the outlook.
Source: Xinhua News Agency
