The Conference Board's Consumer Confidence Index recorded its strongest monthly gain since March 2021.
FILE - People shop at a grocery store on August 14, 2024, in New York City. The index increased in October to 108.7 from a slightly revised 99.2 in September.The Conference Board Senior Economist Stephanie Guichard said consumer confidence “rebounded quite substantially” this month, even though the score remained within a narrow range that has prevailed over the past two years.Views on the current availability of jobs rebounded after several months of weakness.
Inflation expectations remained well above actual inflation levels, though Guichard said people in the surveys are starting to see that inflation is cooling.Despite a pretty rosy consumer confidence report Tuesday, one political expert said he doesn’t see any impact on the election., the Political Management program director at George Washington University, said political scientists trying to forecast elections look at economic growth, consumer confidence, unemployment and inflation.
Based on write-in concerns in The Conference Board’s surveys, the election fell below prices, inflation, food and groceries. said via email that September job openings are down 1.9 million from a year earlier, which translates to 1.1 jobs open for every unemployed individual.The Federal Reserve ratcheted up its benchmark interest rate 11 times between 2022 and 2023 as a lever to tame inflation.
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