November 4, 2021 – The Conference Board Consumer Confidence Index¹ increased 4 points in October to 113.8, partially rebounding from the nearly 20 point decline over the prior three months. Waning concerns over the Delta variant as case counts declined impacted both consumers’ assessment of the present situation and their future expectations.² The future expectations component increased 4.6 points to 91.3, remaining well below the present situation component, which also increased to 147.4.
A smooth school year for students may help to avoid a reversal of this positive trend. Consumer impressions of the job market also remain positive, as do income expectations—albeit in a slightly more narrow range than in past months. Inflation remains a concern among consumers. It did not seem to impact October confidence, but may return as a key issue in the coming months. Vacation intentions improved. Pent up demand for travel is still top of mind with consumers, as nearly half are planning on vacation travel within the next six months.