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U.S. consumer confidence recovers in October as gas prices eased a bit

Consumer confidence rose as gas prices fell; the rebound comes despite lingering concerns over long term inflation rates

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U.S. consumer confidence recovers in October as gas prices eased a bit
U.S. consumer confidence recovers in October as gas prices eased a bitGetty Images

WASHINGTON (AP) — Americans’ confidence in the economy rebounded somewhat in October as gas prices fell modestly, though they remain much higher than at this point last year at this time.

The Conference Board said Tuesday that its consumer confidence index jumped 7.5 points to 91.7 in October from 84.2 last month. September's reading was the lowest in the board’s survey since April 2014 and below the lowest level reached during the pandemic.

Respondents’ views of their present situation rose by 6.9 points to 72.6 while their short-term outlook climbed 8.6 points to 120.4.

Even with the improved outlook, Americans remain flustered by the economy after five years of elevated inflation, potentially posing a risk to President Donald Trump and Republicans in the midterm elections, which are just two weeks away.

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