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The consumer confidence has been slow to improve, after the tumble in March and April due to lock-downs. CB consumer confidence jumped in June by dipped again in July and August. September was another positive month, but today we are seeing a cooling off for this month. Although, the present situation figure jumped higher.
US consumer confidence from the Conference Board
- US October consumer confidence 100.9 vs 102.0 expected
- Prior was 101.8
- Present situation 104.6 vs 98.5 prior
- Expectations 98.4 vs 104.0 prior
There’s a flip in the present situation to expectations. The expectations measure is the more forward-looking measure and signals some caution ahead. The election is going have a big impact on this survey in the month ahead. Half the country is going to be deeply disappointed and the other half pleased. We will have to see how that impacts spending and confidence but I tend to think that ‘hope’ buoys both until one side is let down.
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