U.S. consumer confidence rebounds to 91.7 in October
The index rose from a revised 84.2 in September, reversing part of the recent weakness.
U.S. consumer confidence rose to 91.7 in October from a revised 84.2 in September, a gain of 7.5 points. The improvement reversed some of the weakness in the previous month and put the headline reading back above 90.
The revision is important when comparing the two months. September's initial reading was 81.9; the latest release puts that month at 84.2. October's increase is measured against the revised figure, not the earlier estimate.
A confidence survey describes how households view economic conditions. It is not the same thing as a report on how much they actually spent. The rebound therefore adds to the economic picture without, on its own, establishing an acceleration in consumption.
The release follows a rise in durable-goods orders and comes as the Federal Reserve begins its two-day meeting. See our durable-goods report for the manufacturing figures and today's Toast & Tickers for the earnings and policy backdrop.
