Consumer confidence rebounds amid ease in covid cases

Wells Fargo Research Team Wells Fargo

Summary

Consumer confidence rose for the first time in four months in October, as the easing in COVID cases boosted optimism. Favorable views of the labor market helped to fuel gains in both the present situation and expectation measures and lifted the headline index to 113.8 from 109.8. A pickup in buying intentions suggests consumers are willing to spend despite rising inflation, or perhaps, because they believe prices will be even higher in the future.

Source: The Conference Board and Wells Fargo Securities

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Wells Fargo Research Team

Wells Fargo

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