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Nothing should derail consumer confidence this holiday season, says CEO behind survey

Key Points
  • Consumers think the good economy is going to carry over into early 2019, so the fourth quarter and holiday season should be strong, says The Conference Board's CEO, Steve Odland.
  • Reading at 137.9 this month, the consumer confidence index is at its highest level in 18 years.
Consumer confidence rises to highest level in 18 years

The holiday season is shaping up to be a "very strong" one, said Steve Odland, president and CEO of The Conference Board.

Consumer confidence rose to an 18-year high in October, according to The Conference Board, a global, independent business membership and research association. The reading increased to 137.9 this month, the highest since September 2000, from a downwardly revised 135.3 in September.

Odland, a CNBC contributor who once served as CEO of both Office Depot and AutoZone, told CNBC that consumers think the good economy is going to carry over into early 2019 and because of that the fourth quarter and holiday season should be strong.

"Unless we get into a big bear market, unless some exogenous event happens here, it doesn't look like there's anything that would derail consumer confidence going into the holidays," he said on "Power Lunch. "

Seasonal hiring at retailers such as Amazon, which will put more money into people's pockets, should translate to consumers' willingness to spend during this holiday season.

The escalating trade tensions don't seem to have even "created a ripple," Odland said.

"Consumers are focused on what's impacting them. The jobs market is very strong, wages are moving again, and they are feeling like they've got money to spend," he added.

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Key Points
  • U.S. President Donald Trump said he thinks there will be "a great deal" with China on trade.
  • He also warned that he has billions of dollars worth of new tariffs ready to go if a deal isn't possible.
  • Trump said he would like to make a deal now, but that China was not ready. He did not elaborate.