The US Conference Board (CB) consumer confidence rose 9.5 points in October, reaching 108.7 compared to 99.2 in September. This is the best result obtained by the indicator since March 2021.
The current situation index of the indicator has increased by 14.2 points to 138.0, while the expectations index has risen 6.3 points to 89.1, above the 80 that usually marks the border with recession.
“Consumer confidence posted the strongest monthly increase since March 2021, but has yet to break free from the narrow range that prevailed over the past two years,” it said. Dana M. Peterson, chief economist at The Conference Board.
dollar reaction
The Dollar Index (DXY) has reached its highest level in three months at 104.63 after the opening of Wall Street. At the time of writing, the greenback is trading above 104.47, gaining 0.15% on the day.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
