US Consumer Confidence Slides In October As ‘Hope’ Tumbles
Tyler Durden
Tue, 10/27/2020 – 10:06
After September’s surprise rebound in confidence, The Conference Board reported a drop in sentiment in October with ‘hope’ fading. The headline confidence print fell from 101.3 to 100.9 with current conditions ticking up and future expectations fading:
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Present situation confidence rose to 104.6 vs 98.9 last month
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Consumer confidence expectations fell to 98.4 vs 102.9 last month
Source: Bloomberg
The Labor Differential improved to 6.6 (jobs are easier to get) – its highest since March – but plans to buy cars and major appliances slumped (homes rose modestly) as expectations for income gains in the next 12 months dropped.