Here Comes Consumer Confidence...
AP
This morning at 10:00 a.m. ET, the Conference Board will release its monthly consumer confidence measure.Economists are expecting the measure dropped to 75.0 in October from 79.7.
The figure should give us a pretty good idea of how the government shutdown affected consumer behavior.
"Our expectation is that consumer confidence fell again in October as the federal government shutdown and debt ceiling fight began to weigh on consumers," Wells Fargo's John Silvia recently wrote to clients.
"This erosion in consumer confidence would be consistent with the drop in confidence after the last debt ceiling debate in August 2011. Over the next few months we expect the pace of consumer spending to downshift slightly given the gradual erosion in consumers' expectations about future conditions," he said.