US Consumer Confidence Sees “Extremely Big Rise” – Trump Responds
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U.S. consumer confidence rebounded in October, rising 7.5 points to 91.7 from 84.2 in September, as Americans grew more optimistic about current business conditions and the economic outlook.
The improvement was broad-based, with the Present Situation Index climbing 8.6 points and the Expectations Index gaining 6.9 points, signaling a stronger outlook among consumers heading into the final months of the year, according to The Conference Board.
The Conference Board Consumer Confidence Index® rose by 7.5 points to 91.7 (1985=100) in October, up from 84.2 in September (a slight upward revision). The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—increased by 8.6 points to 120.4. The Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—recovered by 6.9 points to 72.6, only partially reversing three consecutive monthly declines. The survey period for this month’s preliminary results was October 1-21.
“Consumer confidence advanced in October, driven primarily by improved perceptions of current and expected business conditions,” said Fergus McCormick, Senior Economist, Global Indicators, The Conference Board. “The recovery was in line with retail gasoline prices easing from September to October. Yet, despite the increase in October, consumer confidence remained on the long-term downward trend that’s persisted over the past few years. Consumers planned less spending on services and durable goods over the next six months. This likely reflected higher price levels and persistent inflation, which eroded consumers’ purchasing power.”
Trump celebrated the number in a Truth Social post.
BREAKING NEWS: Consumer Confidence is up 7.5%, an extremely big rise. Thank you! President DONALD J. TRUMP
Trump’s economic agenda is working!
