Consumer confidence rises slightly in October

NEW YORK (BestGrowthStock) – Consumer confidence rose slightly in October but remained near historically low levels as concerns about the labor market persisted, according to a private sector report released on Tuesday.

The Conference Board, an industry group, said its index of consumer attitudes rose to 50.2 in October from a revised 48.6 in September.

The median of 72 forecasts from analysts polled by Reuters was for a reading of 49.2. Forecasts ranged from 45.0 to 53.0.

The expectations index rose to 67.8 in October from 65.5 last month.

The present situation index increased to 23.9 from 23.3.

Consumers’ labor market assessment worsened. The “jobs hard to get” index rose to 46.1 percent from 45.8 percent while the “jobs plentiful” index slipped to 3.5 percent from 3.8.

(Reporting by Wanfeng Zhou; Editing by James Dalgleish)

Consumer confidence rises slightly in October