US: Consumer confidence trend remains solid in October – Natixis

Research Team at Natixis, notes that the US consumer confidence from the Conference Board lost 4.9pts to 98.6 in October, below expectations (Consensus: 101.5 / Natixis: 102).

Key Quotes

“Past month data was revised slightly lower. Both the perception of the current situation and expectations deteriorated. However, the 3-month trend of the index rose to a post-crisis high at 101.3.

Perception of the job market weakened (but remained positive) with the “plentiful minus hard to get” declining from 5.3 (the post-crisis high) to 2.2.

All in all, report shows that the trend in consumer confidence remains solid as labor market conditions continue to improve though the upturn in gasoline prices may be a restraining factor. Looking forward, we expect employment gains and modest wage growth to continue to support private consumption in Q4.”