follow us

Consumer Confidence Cooled in October

Don Hogsett -- Home Textiles Today, November 13, 2006

Consumer confidence subsided slightly during October after making a big run up the month before, as Americans continue to fret about the jobs market and current business conditions, The Conference Board reported.

After jumping up by 5.7% in September as gas prices came down, confidence levels waned by 0.5% during October, slipping to a reading of 105.4, down from 105.9 the month before.

"October's dip in confidence was prompted by consumers' mixed assessment of present-day business conditions and a less favorable view of the job market," said Lynn Franco, director of the business think tank's Consumer Research Center.

"Consumers' short-term expectations posted a slight improvement, but the outlook for the labor market remains mixed," said Franco. "Overall, this month's readings continue to suggest a moderate pace of economic growth and more of the same for the first few months of 2007."

Consumers cast a colder eye on present-day conditions than they had in September, said The Conference Board. Those claiming conditions are 'bad' rose to 17.1% from 15.6% a month ago. At the same time, the number who said conditions are 'good' rose slightly, to 28.1% from 27.3%.

In a key bellwether of future consumer spending, consumers' views of the labor market were less positive. The number who said jobs are 'plentiful' declined to 25.8% from 26.2%, while the number who said jobs are 'hard to get' climbed higher to 22.0% from 20.9%.

Confidence by Region

Region % Change
Source: The Conference Board
New England 2.0%
Middle Atlantic 7.9
East North Central -4.6
West North Central -1.6
South Atlantic 7.0
East South Central -8.8
West South Central 6.3
Mountain -4.2
Pacific 2.2

Buying Plans October
Plans to purchase over the next six months

Source: The Conference Board
Homes 0.0%
Carpets -4.4
Cars 3.3
Major appliances 2.5
Vacations 6.9

Featured Video

  • Online Moves From Afterthought To Main Thought For Textiles Suppliers

    Camera Icon More Videos

Other Home Furnishings Sites

Casual Living
Gifts and Decorative Accessories
Home Accents Today
Kids Today
Furniture Today