Consumer confidence deteriorated in the United States in October

By: Trademagazin editor Date: 2020. 10. 28. 11:05

Instead of the improvement expected by analysts, consumer confidence in the US economy deteriorated in October, mainly due to another wave of the coronavirus pandemic, which led to an increase in the number of those who believe the labor market situation may deteriorate in the future.

The Conference Board’s nonprofit economic research institute said Tuesday that the consumer confidence index weakened from 101.3 points in September to 100.9 points in October. Analysts expected an improving indicator of 102 points for October.

According to the survey, U.S. consumers are more optimistic about the current situation than they were a month earlier, but more pessimistic about the outlook. (MTI)