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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.”