It’s looking like this Holiday season will be a winner! Consumer confidence rose again in October to the highest in 18 years!
It’s the highest level since Fall of 2000! This says that Americans feel good about the financial future and that means the shopping for the Holidays will be blockbuster making 4th Quarter earnings higher. Steve Odland of The Conference Board discussed the good news for ALL Americans:
According to the Conference Board:
The Conference Board Consumer Confidence Index® increased again in October, following a modest improvement in September. The Index now stands at 137.9 (1985=100), up from 135.3 in September. The Present Situation Index – based on consumers’ assessment of current business and labor market conditions – improved from 169.4 to 172.8. The Expectations Index – based on consumers’ short-term outlook for income, business and labor market conditions – increased from 112.5 last month to 114.6 this month.
This means consumers see growth into 2019 with a strong finish in the 4Q.
“Consumers’ assessment of present-day conditions remains quite positive, primarily due to strong employment growth,” Lynn Franco, director of economic indicators at the Conference Board, said in a statement.
The solid job market is helping consumer confidence. This bodes well for the midterm elections coming up.
Great news for Republicans and President Trump! The message should be out there that our economy is roaring!
Stephen Moore spoke about the roaring economy and his new book with Art Laffer called “Trumponomics’