The Consumer Confidence Index for the United States, released by The Conference Board, a major global business organization, showed a slight decrease in overall consumer confidence for the month of October compared to September. While consumers expressed more confidence in the current market compared to September, their outlook for the short-term future was not optimistic. Additionally, consumer confidence was found to be correlated with income levels, with lower-income individuals experiencing a drop in confidence while higher-income individuals saw an increase.
According to the organization’s report published on October 28th, the Consumer Confidence Index (CCI) for October was 94.6 points, a slight decrease of 1 point from September’s 95.6.
Stephanie Guichard, the organization’s senior economist, stated, “Consumer confidence in October remained largely unchanged, with only a slight decline from the revised September figures. Changes in data across subcategories were limited and mostly offset each other.”
The report highlighted that consumers with annual incomes below $75,000 saw a decrease in confidence, while the majority of those with incomes exceeding $75,000 experienced an increase, with the largest growth seen among those earning over $200,000.
Among different age groups, consumers under 35 showed a decline in confidence, while those over 55 also saw a slight decrease. However, the confidence of the 35 to 54 age group showed a slight improvement.
When broken down by political affiliation, independents showed an increase in confidence, while support for the Democratic Party declined and Republican supporters also experienced a slight decrease.
The Consumer Confidence Index is based on a benchmark of 100 points established in 1985. Throughout the nearly 60-year assessment history of the CCI since 1967, it plummeted to 25 points in February 2009 during the economic crisis and reached its peak at 138 points in October 2018.
Certain subcategory indices indicated limited changes in different directions. For example, the “Present Situation Index,” which measures consumers’ perspective on the current business environment, increased by 1.8 points to 129.3 from September. On the other hand, the “Expectations Index” dropped by 2.9 points to 71.5, which assesses consumers’ short-term outlook on future income, business, and labor markets.
The organization noted that an Expectations Index below the threshold of 80 points is typically considered a precursor to an economic recession. Since February 2025, the Expectations Index has consistently remained below 80 points.
The Consumer Index report also revealed an increase in the number of people planning to purchase vehicles, primarily used cars. As the upcoming holiday shopping season approaches, consumers are expected to spend less compared to last year, with a projected 3.9% decrease in gift expenditures and a 12% reduction in non-gift spending.