US Consumer Confidence Beats Forecasts in October, Climbing to 91.7

U.S. consumer confidence staged a stronger-than-expected recovery in October, rising to 91.7 against market forecasts ranging from 80.4 to 81.2. The Conference Board's headline index rebounded 7.5 points from an upwardly revised 84.2 in September, supported by easing gasoline prices. The Present Situation Index advanced to 120.4 from 111.8, while the Expectations Index climbed to 72.6 from 65.7. Despite the gains, the expectations component remained below the key 80 recession threshold, average 12-month inflation expectations held at 5.8%, and consumers scaled back spending plans for durable goods and discretionary services.