According to analysts from Wells Fargo, consumer confidence remains elevated with more consumers feeling optimistic about both present conditions and future job and income prospects.
Key Quotes:
“With financial market volatility and the government shutdown firmly in the rearview, consumer confidence partially reversed its recent three month string of declines and rose to 131.4.”
“The present situation component of the index improved to a cyclehigh of 173.5. More consumers reported that current conditions were “good”, while fewer assessed conditions as “bad.”
“Expectations for the next six month jumped 14 points to 103.4. A larger proportion of consumers expect more jobs and an improvement to incomes. Tarnishing the outlook were fewer consumers planning to buy autos, homes and major appliances.”
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