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Consumer confidence in October decreased by one point in October to 94.6, according to The Conference Board’s Consumer Confidence Index. This number is down from 95.6 in September.
The Present Situation Index, based on consumers’ assessment of current business and labor market conditions, increased to 129.3, up 1.8 points. The Expectations Index, based on consumers’ short-term outlook for income, business and market conditions, declined by 2.9 points to 71.5.
“Consumer confidence moved sideways in October, only declining slightly from its upwardly revised September level,” says Stephanie Guichard, senior economist, global indicators at The Conference Board. “Changes to the individual subcomponents were also limited and largely cancelled each other out. The Present Situation Index regained some strength after September’s drop. Consumers’ view of current business conditions inched upward, while their appraisal of current job availability improved for the first time since December 2024. On the other hand, all three components of the Expectations Index weakened somewhat. Consumers were a bit more pessimistic about future job availability and future business conditions while optimism about future income retreated slightly.”
For consumers under 35 and over 55 years old, confidence declined, while confidence was up among consumers aged 35 to 54. Younger consumers and consumers earning over $75,000 per year reported increased confidence in October.
“Consumers’ write-in responses were led by references to prices and inflation, which continued to be the main topic influencing consumers’ views of the economy,” Guichard says. “References to tariffs declined further this month but remained elevated. Mentions of jobs and employment eased somewhat after picking up in September.”
Data from the report also notes holiday spending will be down this season, with consumers expected to spend 3.9% less on gifts and 12% less on non-gifts.
