English
US consumer confidence data is more positive than expected
The data of the Consumer Confidence Index issued by the Conference Board showed great positiveness this October, which shows the recovery of the American economy from the repercussions of the outbreak of the new Corona virus, as the data showed that the index rose to 113.8 points, less than the market expectations, with the index recording only 108.4 points. It is also higher than the previous reading, which recorded 109.3 points last July.
It should be noted that the consumer confidence index strongly affects the financial markets, whether the stock or bond market, where consumer spending represents two-thirds of economic activity, and if the consumer is not confident in economic activity, he will not buy goods, and therefore confidence affects consumer spending, which naturally affects On economic growth, and for stock markets, strong economic growth is reflected in improved corporate profits and higher stock prices.
