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Consumer Confidence: Holding Near Record Highs

October 30, 2018
Bottom Line: Consumer confidence was revised lower for September but was stronger than expected for October with the index holding near record highs. Confidence, at 137.9, is above its three month average of 136.0. Additionally, details were positive as 6-month outlooks for business rose modestly, outlooks for income rose modestly and employment rose modestly.

Consumer Confidence ROSE by 2.6 points in October to 137.9, compared with market expectations for an increase to 135.9. The index is now 9.3% ABOVE its year ago level.

Present Situation Index ROSE by 3.4 points to 172.8. The index is 13.7% ABOVE its year ago level.

The Expectations Index ROSE by 2.1 points to 114.6. The index is 5.1% ABOVE its year ago level.

The labor differential, the percentage of respondents who said jobs are “hard to get” from the percentage who said jobs are “plentiful” , moved higher by 2.7 points to 32.7.