Consumer Confidence Bounces High

October 31, 2012  by in UnCategorized   

By Home Furnishings Business in on November 1, 2012

Consumer confidence jumped in October 72.2, the highest level since February 2008.

The Conference Board, the tracker of the index, attributed the increase in the gauge to brighter views on present employment and business conditions.

The index jumped 3.8 points from the downwardly revised 68.4 reported for September.

""The Consumer Confidence Index increased again in October and is now at its highest level this year," said Lynn Franco, director of economic indicators at the Conference Board, a New York research group. "Consumers were considerably more positive in their assessment of current conditions, with improvements in the job market as the major driver. Consumers were modestly more upbeat about their financial situation and the short-term economic outlook, and appear to be in better spirits approaching the holiday season."