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    November 9, 2020

    Consumer Confidence: Mixed Bag in October

    Written by David Schollaert

    After declining drastically earlier in the year due to the onset of COVID-19, U.S. consumer confidence has improved, but still has a way to go. Following increases in August and September, the composite value of consumer confidence, as reported by The Conference Board, slipped slightly in October to 100.9, down from 101.8 the month prior.

    The three-month moving average (3MMA) rose to 96.2, due in part to the increase in September, but remains a far cry from the 130.4 seen in February. This indicator is quite volatile; therefore, the moving average is used to reduce monthly variability.

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

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