#USConsumerConfidence

Consumer confidence in the United States is a key indicator that reflects the optimism or pessimism of citizens regarding the economy and their personal financial situation. This index is closely monitored by economists and policymakers, as it directly influences household spending, which constitutes a significant part of the country's Gross Domestic Product (GDP).

In October 2024, consumer confidence recorded a notable increase, reaching its highest level in over three years. The Conference Board reported that its index rose to 108.7 points, up from 99.2 in September. This increase surpassed analysts' expectations, who anticipated a figure closer to 99.5. Dana Peterson, chief economist at the Conference Board, noted that "consumer confidence recorded the largest monthly increase since March 2021, but it has still not emerged from the narrow range that has prevailed over the last two years."

This upturn is attributed to an improvement in Americans' perceptions of the economic situation and the labor market. The proportion of consumers who consider employment to be "abundant" rose to 35.1% from 31.3% in September, while those who claim that jobs are "hard to come by" decreased to 16.8% from 18.6% the previous month.

However, it is important to contextualize this increase within recent trends. In April 2024, consumer confidence had fallen to its lowest level since July 2022, with an index of 97 points, reflecting concerns about the labor market and economic outlook. This previous decline underscores the volatility and sensitivity of consumer confidence to various economic and social factors.