The Conference Board Consumer Confidence Index increased slightly in October after decreasing a small amount in September. The index now stands at 50.2, up from 48.6 in September.
“Consumer confidence, while slightly improved from September levels, is still hovering at historically low levels,” said Lynn Franco, director of the consumer research center at The Conference Board. When the organization launched the index in 1985, the index stood at 100. “Consumers’ assessment of the current state of the economy is relatively unchanged, primarily because labor market conditions have yet to significantly improve. And despite the uptick in expectations, consumers continue to be quite concerned about the short-term outlook.”