Daily News
From Home Furnishing Business
Consumer Confidence Hits 7-Year Peak
October 29,
2014 by in Economic News, Industry 
Consumer confidence hit a seven-year high this month buoyed by a growing belief in the jobs market and the likelihood that wage growth is on the horizon, according to The Conference Board.
The organization reported that consumer confidence for October climbed to 94.5, up from 89 in September.
"A more favorable assessment of the current job market and business conditions contributed to the improvement in consumers’ view of the present situation," said Lynn Franco, director of economic indicators at The Conference Board. "Looking ahead, consumers have regained confidence in the short-term outlook for the economy and labor market, and are more optimistic about their future earnings potential. With the holiday season around the corner, this boost in confidence should be a welcome sign for retailers.”
Consumers' appraisal of current conditions was moderately more favorable in October than in September.
Optimism, which had declined in September, bounced back in October. The percentage of consumers expecting business conditions to improve over the next six months increased from 19 percent to 19.6 percent, while those expecting business conditions to worsen fell from 11.4 percent to 9.3 percent