Consumer confidence surges as election nears, while job openings move lower
Source: CNBC
Published Tue, Oct 29 2024 10:34 AM EDT Updated 2 Min Ago
Consumers grew more optimistic about the U.S. economy heading into the contentious presidential election even as job openings hit multi-year lows, according to separate reports released Tuesday.
The Conference Board’s consumer confidence index for October rose more than 11% to a reading of 138, its biggest one-month acceleration since March 2021. Along with that, the board’s expectations index of future conditions jumped nearly 8%, to a reading of 89.1 that is well clear of the sub-80 level that indicates a recession.
Economists surveyed by Dow Jones had been looking for a headline number of 99.5.
“Consumers’ assessments of current business conditions turned positive,” said Dana Peterson, the board’s chief economist. “Views on the current availability of jobs rebounded after several months of weakness, potentially reflecting better labor market data.”
Read more: https://www.cnbc.com/2024/10/29/consumer-confidence-surges-as-election-nears-job-openings-move-lower.html
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Lying in a bed with a tube shoved down their throat, but hey, gas was $2 cheaper! 