The Conference Board – Oct. 29, 2019
The U.S. consumer confidence continued to decline in October, after a slight decrease in September. The Conference Board’s Consumer Confidence Index decreased to 125.9 in October, down from 126.3 in September. The Present Situation Index, which shows current views on business and labor conditions, increased from 170.6 in September to 172.3 in October. The short-term outlook of consumers also decreased as the Expectations Index dropped from 96.8 in September to 94.9 in October.
The report also found that 46.9% of respondents felt jobs were currently plentiful, up from 44.5% in September, while the amount of those who said jobs were hard to get increased from 11.0% in September to 11.8% in October.
“Consumer confidence was relatively flat in October, following a decrease in September,” said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. “The Present Situation Index improved, but Expectations weakened slightly as consumers expressed some concerns about business conditions and job prospects. However, confidence levels remain high and there are no indications that consumers will curtail their holiday spending.”
US Retail Sales Rebound in October, Set for Big Holiday Push
Wall Street Journal – Nov. 15, 2019
After a decrease of 0.3% in September, U.S. retail sales rebounded in October, according to the Commerce Department. The 0.3% gain exceeding economists’ expectations of 0.2%. The rise can be attributed to a 1.1% gain in sales at gas stations, as well as a 0.5% increase in auto sales. Excluding gas and vehicle sales, retail sales gains were basically flat at 0.1%. While sales were up 1.1% between August and October over the three previous months, the more significant gains can be seen over the first 10 months of 2019 as year-over-year increases were up 3.1% compared to the same period in 2018.
The trend of online sales continues to show strength as non-brick-and-mortar sales were up 0.9% in October, marking a year over year gain of 14.3%. According to research by The Conference Board, more than 41% of consumers expect to make at least 50% of holiday purchases online. “This holiday season has all the makings of a good one,” said Lynn Franco, senior director of economic indicators at The Conference Board, in a statement. “Consumers are gearing up for the holidays, with signs indicating they will not rein in their spending.”
