Consumer Confidence Rebounds Amid Ease in COVID Cases

Summary Consumer confidence rose for the first time in four months in October, as the easing in COVID cases boosted optimism. Favorable views of the labor market helped to fuel gains in both the present situation and expectation measures and lifted the headline index to 113.8 from 109.8. A pickup in buying intentions suggests consumers are willing to spend despite rising inflation, or perhaps, because they believe prices will be even higher in the future. Consumer Confidence Gets a Pick-Me-Up Consumer confidence rose for the first time in four months, jumping four points to 113.8 in October, as concerns that drove confidence to a seven-month low in September eased. COVID cases are again receding from their more-recent peak and the onslaught of negative news in September, which ranged from natural disasters to fiscal uncertainty and the wind-down of the war in Afghanistan, has subsided. There was an improvement in consumers views of both current conditions and expectations for the future. READ FULL ARTICLE>>