Consumer Confidence Stabilizes in Consecutive Months

“October’s LSEG/Ipsos Primary Consumer Sentiment Index finds that overall American consumer confidence is stable for the second consecutive month,” Johnny Sawyer of Ipsos states. “The uncertainty amidst a potential government shutdown appears to have had little effect on Americans’ overall confidence, which for the fourth consecutive month is higher than it was at this point a year ago. Of note, Americans are now more confident in the future of both their personal financial situation and the health of their local economy. Sentiment in both of these areas is at or near its highest point of the year.”

Jharonne Martis, Director of Consumer Research at LSEG, said, “Although consumer confidence is stable, consumers remain cautious and value-oriented in this macro-economic climate. This is reflected in the LSEG Retail & Restaurant Earnings Index which is on track to report an 11.1% growth rate for Q3 2023. Our metrics show that seven of 10 consumer-related industries have turned negative.”

Download the full report here.

___________________________________________________________________________

Join a growing community of asset managers and stay up to date with the latest research from Refinitiv and partners to help you inform your investment decisions. Follow our Asset Management LinkedIn showcase page.