The Conference Board Consumer Confidence Index, which had decreased in September, rebounded in October. The index now stands at 94.5 (1985=100), up from 89.0 in September. The Present Situation Index edged up from 93.0 to 93.7, while the Expectations Index increased sharply to 95.0 from 86.4 in September.
Consumers’ appraisal of current conditions was moderately more favorable in October than in September. Their view of business conditions was mixed. While the proportion saying conditions are “good” inched up from 24.2% to 24.5%, those claiming business conditions are “bad” also increased slightly, from 21.2% to 21.7%.