Recent Updates
- Hong Kong: Clearing Transactions (May)
- Japan: Survey of Household Economy, Consumption Trend Index (Apr), First 20 Days Trade, Bank of Japan's Transactions (May)
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Economy in Brief
U.S. Productivity and Unit Labor Costs Revised Up for Q1'20
Output per hour revised up on weaker hours worked...
State & Pandemic Assistance Continuing Claims Total 32.5 Million
Initial jobless claims decreased to a still extremely-elevated 1.877 million in the week ending May 30...
Euro Area Retail Sales Fall Again
Euro area retail sales fell sharply again, dropping by 11.7% in April...
U.S. ISM Nonmanufacturing Activity Index Rebounds in May
Service sector business improves moderately...
U.S. ADP Nonfarm Private Payroll Declines Moderate During May
Nonfarm private payrolls during May declined 2.760 million (-16.6% y/y)...
by Tom Moeller October 25, 2005
In October, the Conference Board's index of Consumer Confidence fell to 85.0 and added 2.9% to the 17.9% m/m decline during the prior month.
Consensus expectations had been for little change at 88.0. Last week, the University of Michigan reported that its October measure of consumer sentiment fell 2.0% m/m (-17.8% y/y).
During the last twenty years there has been a 52% correlation between the level of consumer confidence and the y/y change in real consumer spending. The correlation rose to 66% during the last ten years.
The index of consumers' expectations fell 3.9% m/m (-24.6% y/y) and the assessment of the present situation slipped 2.0% (+15.1% y/y). Jobs were viewed as hard to get by an increased 25.3% of survey participants.
The Conference Board’s survey isconducted by a mailed questionnaire to 5,000 households and about 3,500 typically respond.
| Conference Board | Oct | Sept | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Consumer Confidence | 85.0 | 87.5 | -8.5% | 96.1 | 79.8 | 96.6 |
