Money Minute Friday 11 October: funds, inflation and confidence

In today's Money Minute we have trading updates from fund managers, EU inflation data, and US consumer confidence.

In corporate news this morning, we get trading updates from fund managers Jupiter and Man Group.The industry in general is facing tough competition from cheap passive funds, and that's not likely to change any time soon.

In economic news, over in the eurozone, we get the latest readings on inflation from both Spain and Germany.

This afternoon in the US, we get the University of Michigan consumer confidence index for October.Consumer spending is responsible for the majority of America's GDP. So consumer confidence is important.If consumers feel secure in their jobs and confident about the outlook, they spend.But if they fear losing their jobs, or that political turmoil will start to have a direct impact on their own lives, they will be far more thrifty.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

Confidence has held up well. With interest rates low and employment high, consumers have been able to shrug off headlines about recession and impeachment.But the index is worth watching for signs that consumer resilience is wearing thin.