Overview
- The Conference Board's October 1–21 survey reported the Consumer Confidence Index jumped to 91.7 from a revised 84.2 in September, led by an 8.6‑point rise in the Present Situation Index to 120.4 and a 6.9‑point recovery in the Expectations Index to 72.6.
- Senior Economist Fergus McCormick said easing retail gasoline prices helped improve views of current and expected business conditions, but he emphasized the index remains on a longer‑term downward trend.
- Consumers' average 12‑month inflation expectation fell slightly but stayed elevated at 5.8 percent, and planned purchases of autos, homes and other durable goods weakened on a six‑month horizon.
- Confidence gains were concentrated among adults under 35 and households with incomes of $100,000 or more, widening a multi‑year generational gap as Gen X and older cohorts stayed more pessimistic.
- Because consumer confidence helps predict household spending, the partial rebound suggests only limited near‑term support for retail demand and GDP unless inflation pressures ease and big‑ticket spending intentions recover.