Consumer confidence rises to 91.7 in October against 81.0 expected
Consumer Confidence October 91.7 vs 81.0 expected and 81.9 prior
Published
The Conference Board's consumer confidence index rose to 91.7 in October. Economists had expected 81.0. The index stood at 81.9 in September, the month before.
The weak September reading was read as evidence that consumers were losing momentum faster than economists had modeled. The October figure reverses that picture. It undercuts the idea of a broad weakening in consumer mood that was built on the earlier miss.
Taken at face value, the October figure removes some of the case for aggressive interest rate cuts by the Federal Reserve that rested on consumer softness. The size of the move in a single month raises questions, though, about how much weight either reading can carry on its own.
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