WASHINGTON, Oct 27 (Reuters) – US consumer confidence improved in October amid an easing in gasoline prices, though frustration with the rising cost of living persisted, a survey showed on Tuesday.
The Conference Board said its consumer confidence index increased to 91.7 this month from an upwardly revised 84.2 in September. Economists polled by Reuters had forecast the index at 81 following a previously reported 81.9 reading in September.
“The recovery was in line with retail gasoline prices easing from September to October,” said Fergus McCormick, senior economist, global indicators at the Conference Board. “Among write-in responses in October, consumers continued to express frustration with rising costs. References to prices, the high cost of food and groceries, and oil and diesel prices rose.”
(Reporting Lucia Mutikani; Editing by Chizu Nomiyama)
Comments