Consumer confidence index October 2022

The State Street Global Confidence Index has dropped 4.6 points in October to 104.3. European confidence dropped to 86.2, and North America dropped to 104.0. Asian confidence rose 4.1 points to 104.5.

September’s revised reading was 108.9, with a drop to 104.3 in October.

 “Risk appetite contracted in October for the first time in five months as the Global ICI fell4.6 points to 104.3,” said Rajeev Bhargava, head of Investor Behavior Research, State Street Associates.

“The move was largely driven by weaker sentiment in Europe and US, with the former falling just over 14 points, likely driven by escalating concerns that the European Central Bank may be well behind in the tightening cycle and therefore bring hikes forward. In addition, growing unease around UK fiscal outlook contributed to the volatility across European markets and in turn to the decline in confidence locally. Interestingly, confidence of Asia investors was more resilient in October as the regional ICI increased over 4 points.