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Confidence reverts to improving trend toward holiday

spending confidence trends
Spending confidence rebounded across key generations in October—reverting to an improving outlook heading toward the December holidays—as hurricane and other weather effects subsided.

Millennials and Gen X led the confidence pickup, which are the two groups most likely to drive discretionary spending. These generations will support the better holiday expected by MacroSavvy™ (see forecast here).

Category differences will remain important to the outlook as noted below, although e-commerce spending will continue to benefit disproportionately over stores (see the related report here):

These are among the takeaways from data through October from the Spending Confidence Index™, which is the proprietary index of consumer sentiment created by MacroSavvy™ based on data from Prosper Insights and Analytics™.

For more background about the Spending Confidence Index™ and its components, the white paper at this link explains why the new index is an improvement over existing measures of confidence.

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