10/11, 4:01 PM (Source: TeleTrader)
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US consumer confidence improves in October

Consumer Sentiment Index in the United States rose by 3.0% to 96.0 points in October compared to September, according to a preliminary report published by the University of Michigan on Friday. However, the index was still lower by 2.6% year-over-year.

Current Economic Conditions Index increased by 4.5% from the previous month and was 0.3% higher on an annual basis.

Meanwhile, Index of Consumer Expectations was 1.7% up month-on-month. However, it dropped by 5.0% from October 2018.

The report pointed out that real income expectations reached their highest level in the last 20 years. Those expectations, along with lower interest rates, likely influenced the increase in consumers' spending plans.

Breaking the News / MS