Thursday, October 27, 2016

Consumer confidence for October drops below estimate.

The Consumer Confidence Index dropped to 98.6 in October from 104.1 in September, which was much lower than the estimated 101.5.  The survey in question measures confidence toward business conditions, personal finances, short-term outlook, and jobs. People who described business conditions as "good" decreased more than 2 percent to 26.2%.  The people describing them as "bad" increased almost 2 percent to 17.7%. Furthermore, people who described jobs as "plentiful" decreased from 27.6% to 24.3%.  The Present Situation Index also decreased from 127.9 to 120.6 along with the Expectations Index, which declined from 87.2 to 83.9.  This shows that not only the job market is in decline, but the public opinion of the job market is declining as well for reasons including inflation, wages, job conditions, taxes, and technology performing tasks that at one time required human labor.

Source: http://www.cnbc.com/2016/10/25/consumer-confidence-report-for-october-2016.html

1 comment:

  1. I like your summary a lot. What I would like to see is more of an analysis of why you think that these numbers have changed and then support what you say with either observations or facts.

    ReplyDelete