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Confidence Index: Consumers’ dismal economic outlook may require steep discounting | Home Accents Today


WASHINGTON — Involved about rising inflation, U.S. shoppers had a robust decline of their perceptions concerning the financial system and their very own monetary prospects within the month of October as reported by the Conference Board’s Consumer Confidence Index.

As well as, the Bureau warned that fears of inflation might make this a challenging holiday retail season, with deep reductions wanted to dump stock a chance.

Client confidence decreased in October to 102.5 (1985=100), down from 107.8 in September. The Current Scenario Index — based mostly on shoppers’ evaluation of present enterprise and labor market circumstances — fell sharply to 138.9 from 150.2 final month. The Expectations Index — based mostly on shoppers’ short-term outlook for earnings, enterprise and labor market circumstances — declined as properly to 78.1 from 79.5.

“The Current Scenario Index fell sharply, suggesting financial progress slowed to begin This fall,” mentioned Lynn Franco, senior director of financial indicators at The Convention Board. “Shoppers’ expectations concerning the short-term outlook remained dismal. The Expectations Index remains to be lingering under a studying of 80 — a degree related to recession — suggesting recession dangers seem like rising.”

Client concern about inflation is rising as meals and gasoline costs proceed to climb and trip plans are slowing. The survey confirmed that intentions to buy a properties, vehicles and big-ticket home equipment all rose in October.

“Wanting forward, inflationary pressures will proceed to pose sturdy headwinds to client confidence and spending, which might end in a difficult vacation season for retailers,” Franco mentioned. “And, given inventories are already in place, if demand falls brief, it might end in steep discounting which would scale back retailers’ revenue margins.

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