US Consumer Confidence Rebounded Sharply In October

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The Xiaobian of the network gives us an introduction to the sharp rebound in consumer confidence in the US in October.

According to a report released on the 28 day by the World Economic Research Institute of the world's large enterprises, the US consumer confidence index rebounded sharply to a seven year high in October, thanks to the improvement of employment market and the fall in oil prices.

According to the report, the consumer confidence index of the world's big business research association in October was 94.5, higher than the 89 revised in September, a record high since October 2007, better than economists generally expected.

In a few words, October reflects the confidence of the current situation.

From 93 last month to 93.7, the confidence index for future expectations rose sharply from 86.4 last month to 95.

Lynn Franco, director of the Department of economic indicators of the world's largest enterprise research association, said that a more optimistic assessment of the current US employment market and business conditions improved consumer perceptions.

"Looking ahead, consumers will regain confidence in the short-term prospects of the economy and employment market and be more optimistic about future earnings," she said.

As the holiday season draws near at the end of the year, the improvement of consumer confidence is a positive phenomenon for retailers.

In addition, American consumers were employed in October.

The assessment has been mildly improved.

According to the report, the proportion of respondents who thought jobs were "adequate" rose from 16.3% last month to 16.5%.

The consumer confidence index is compiled by a questionnaire survey conducted by 5000 American households randomly selected from the US in the first half of the month.

Because consumption accounts for about 70% of the US economy, the index is considered an important indicator of the US economy.