WASHINGTON— U.S. consumer confidence slipped slightly in October as Americans grew more cautious about the economic outlook, according to new data from The Conference Board.
The Consumer Confidence Index edged down to 94.6 from a revised 95.6 in September, with expectations for future business and labor conditions continuing to signal recessionary concern for the ninth straight month.
“Consumer confidence moved sideways in October, only declining slightly from its upwardly revised September level,” said Stephanie Guichard, senior economist, global indicators at The Conference Board. “Changes to the individual subcomponents were also limited and largely cancelled each other out. The Present Situation Index regained some strength after September’s drop. Consumers’ view of current business conditions inched upward, while their appraisal of current job availability improved for the first time since December 2024. On the other hand, all three components of the Expectations Index weakened somewhat. Consumers were a bit more pessimistic about future job availability and future business conditions while optimism about future income retreated slightly.”
Among demographic groups, confidence declined for consumers under 35 years old and, to a lesser extent, among consumers over 55. Confidence improved for consumers aged 35 to 54. By income, confidence fell for consumers making less than $75,000 a year, but improved for most of the income groups making more than $75,000, with the largest increase among those earning over $200,000. Younger consumers and consumers earning over $75,000 have been the most optimistic overall. By partisan affiliation, confidence improved among Independents, declined among Democrats, and was also slightly down among Republicans.