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Confidence reverts to improving trend toward holiday

spending confidence trends
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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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