Consumer Confidence Rebounds Slightly in October
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October 26 The Conference Board Consumer Confidence Index recovered somewhat this month after declining in September, according to the latest survey by The Conference Board
The overall index was 50 in October, up from 48.6 in September. The Present Situation Index rose 0.6 points to 23.9. The Expectations Index rose 2.3 points to 67.8.
Despite the improvement, consumer confidence continues to hover at historically low levels, says Lynn Franco, director of The Conference Board Research Center, largely because labor market conditions have yet to significantly improve.
Survey respondents claiming that jobs are "hard to get" rose to 46.1% from 45.8% in September. Those stating jobs are "plentiful" fell to 3,5% from 3.8%.
"Despite the up tick, in expectations, consumers continue to be quite concerned about the short-term outlook," Franco added.
The survey is based on a representative sample of 5,000 U.S. households.
Read the latest news release on the Consumer Confidence Survey here.