TRICK OR (HOLIDAY) TREAT?
By FITSNEWS || “Ebola, Sch-ebola.”
U.S. consumers shook off the threat of a deadly virus – as well as some serious market turbulence – to post the best consumer confidence mark in years in October. The Conference Board’s key index soared to 94.5 this month – the highest it’s been since October 2007.
Impressive, right? That’s certainly the idea …
And while the measure’s “present situation” metric barely budged, there is unbridled optimism moving forward – with the “expectations” side of the measure soaring from 83.7 to 95.0, the highest it’s been since 2011.
With stagnant income growth and 93 million working age Americans not in the labor pool, we see very little reason for consumer optimism. But let’s hope we’re wrong … and these numbers are right. With the 2014 holiday shopping season around the corner it would be a very opportune time for “hope” to make a comeback.