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Enviado: 28/10/2003 16:07U.S. consumer confidence rebounds in Oct: 81.1 vs forecast 79.1 (10:00am
WASHINGTON (CBS.MW) - The Conference Board's Consumer Confidence Index rose to 81.1 in October from a revised 77.0 in September.
The increase in consumer confidence was larger than expected. The consensus forecast of Wall Street economists was for consumer confidence to rise to 79.1 in October. Consumer confidence in September had originally been estimated at 76.8.
The present situation index increased to 66.8 from 59.7. This is the first increase after five straight monthly declines.
The expectation of future economic conditions rose to 90.7 from 88.5 in September.
"With the holiday season around the corner, this improvement in consumers' spirits is a good omen for upcoming retail sales," said Lynn Franco, director of The Conference Board's Consumer Research Center.
WASHINGTON (CBS.MW) - The Conference Board's Consumer Confidence Index rose to 81.1 in October from a revised 77.0 in September.
The increase in consumer confidence was larger than expected. The consensus forecast of Wall Street economists was for consumer confidence to rise to 79.1 in October. Consumer confidence in September had originally been estimated at 76.8.
The present situation index increased to 66.8 from 59.7. This is the first increase after five straight monthly declines.
The expectation of future economic conditions rose to 90.7 from 88.5 in September.
"With the holiday season around the corner, this improvement in consumers' spirits is a good omen for upcoming retail sales," said Lynn Franco, director of The Conference Board's Consumer Research Center.