Market Data
October 28, 2022
Consumer Confidence Edges Down in October
Written by David Schollaert
US consumer confidence slipped in October after two straight monthly increases amid rising concerns about inflation and a possible recession next year. Despite the decline, households remain keen to purchase big-ticket items like motor vehicles and appliances, The Conference Board reported.
Though down, October’s results still pointed to decent consumer buying, as more consumers planned to buy a home over the next six months — despite soaring borrowing costs — and correlating well with the recent GDP growth reported for the third quarter.
