U.S. Consumer Confidence At Highest Level in Nearly 17 Years

What’s the story?

Bloomberg reports that U.S. consumer confidence rose to its highest level in nearly 17 years in October according to data released Tuesday by the Conference Board, a New York-based business research firm.

The Conference Board’s Confidence Index rose from 120.6 to 125.9 — the highest level since December 2000 — while its measure of present conditions improved to a level unseen since 2001. Of those surveyed, 22.2 percent of consumers expected better business conditions in the next six months, while 20.3 percent of households expect incomes to rise in the next six months.

The findings indicate that Americans are becoming more confident in the strength of the economy and the employment opportunities available to job seekers, and are in line with other benchmarks like the University of Michigan’s consumer sentiment index that reached its highest level since 2004 in October.

What do you think?

Are you feeling more confident about the economy? Do you think the job market is strengthening and that incomes will rise? Or do these numbers belie the challenges facing working Americans? Let us know what you think in the comments below.

— Eric Revell

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