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US Consumer Confidence Slips in October Amid Sustained Job Concerns
From wellsfargo.bluematrix.com
Consumer confidence came in at 94.6 in October, the third consecutive monthly decline. Slight solace comes from the fact that last month's measure was upwardly revised to 95.6 from 94.2, leaving consumers sitting about where we thought they were last month. Consumers' assessment of their current situation ticked up slightly, while their future expectations declined (chart). Though things haven't exactly gotten better, they haven't gotten particularly worse, either. We have long cautioned against reading too much into confidence and sentiment as they do not away serve as reliable gauges for future consumer spending. ... (full story)
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The Conference Board Consumer Confidence Index® inched down by 1.0 point in October to 94.6 (1985=100) from an upwardly revised 95.6 in September. The Present Situation Index—based on consumers' assessment of current business and labor market conditions—gained 1.8 points to 129.3. The Expectations Index—based on consumers' short-term outlook for income, ...
Private payroll processor ADP said Tuesday that the US labor market showed signs of bouncing back in October, with the average weekly increase in employment tallying 14,250 over a four-week period ended Oct. 11. "This growth in employment suggests that the U.S. economy is emerging from its recent trough of job losses," ADP chief economist Nela Richardson ...
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