retail news in context, analysis with attitude

The Conference Board yesterday said that its consumer confidence index was down to 39.8 in October, down from a revised 46.4 in September, far worse than the 46.0 that was expected by economists.

The Wall Street Journal reports that confidence is “back to recessionary levels as individuals turn more pessimistic about labor markets ... Consumer expectations for economic activity over the next six months dropped to 48.7 from a revised 55.1, originally reported as 54.0.

“The present situation index, a gauge of consumers' assessment of current economic conditions, fell for the sixth consecutive month to 26.3 from a revised 33.3 in September, originally put at 32.5.”
KC's View:
What’s really interesting about this is that consumer confidence is down at the same time as the stock market seems to be doing pretty well. On the other hand, maybe it is precisely that discrepancy that seems to have inflamed so many passions around the country.