Consumer Confidence Rebounds as Delta Concerns Ease

Source: The Conference Board

Consumer confidence rebounded in October after three straight months of decline amid the easing of cases brought about by the COVID-19 delta variant.

• The Conference Board Consumer Confidence Index jumped to 113.8 in October from 109.8 in September.
• The Present Situation Index climbed to 147.4 from 144.3, while the Expectations Index grew to 91.3 from 86.7.
• Consumers were more optimistic about the short-term labor market outlook and short-term financial prospects in the next six months.
• TCB Senior Director Lynn Franco attributed the improvements to the easing of concerns related to the delta variant.
• Growth was seen in the proportion of consumers planning to make major purchases such as homes, automobiles, and appliances during the month.
• Nearly half of respondents indicated the possibility of taking a vacation in the next six months, the highest level since February 2020.