Consumer Confidence Slips in October

October 31, 2006

Comments

The Conference Board noted that the index of consumer confidence dipped unexpectedly on Monday due to concerns over the job market and the economy in general. The decline was small with the index dropping from 105.9 in September to 105.4.

“October’s dip in confidence was prompted by consumers’ mixed assessment of present-day business conditions and a less favorable view of the job market,” says Lynn Franco, Director of The Conference Board Consumer Research Center. “Consumers’ short-term expectations posted a slight improvement, but the outlook for the labor market remains mixed. Overall, this month’s readings continue to suggest a moderate pace of economic growth and more of the same for the first few months of 2007.”

Overall, it isn’t that bad, but note that the overall trend of the index since April has been in a downward direction.

3 responses to “Consumer Confidence Slips in October”

donsurber

October 31, 2006 at 7:46 pm

Anything over 100 is fine

Is this index worth a damn? It seems to indicate nothing more than press reports
Elrod

October 31, 2006 at 9:25 pm

I’m confused. The Washington Post said today that Consumer Confidence was at the highest point since January 2004. Obviously, the Washington Post is using a different model than the Conference Board, but how could they be so different?
yetanotherjohn

November 1, 2006 at 11:30 am

And the overall trend since May is up (four above May, one below). And the overall trend since February is decidedly up (seven above February and one below). I think this is a classic example of the glass being half full or half empty. By choosing the high point, you see the glass has less in it. By looking at the starting data point, you the glass has more in it.