US: Consumer confidence index to improve slightly to 126.5 in November - Nomura

Analysts at Nomura expect the US Conference Board’s consumer confidence index to improve slightly to 126.5 in November, following a 5.3 index point jump in October (Consensus: 124.0).

Key Quotes

“Consumer confidence remained high on the back of the strong pace of job creation and low unemployment. Despite the damage from the recent hurricanes and increased policy uncertainty from ongoing debates on tax cuts, consumer sentiment has been firm. In October, consumer confidence in the regions affected by the hurricanes largely recovered. Further, incoming data continue to point to healthy labor market improvement going into Q4, with the Conference Board’s labor market differential index (“jobs plentiful” minus “jobs hard to get”) at its highest level since the global financial crisis.”