US Consumer Confidence Reaches Nine-Month High in October

The Conference Board reports significant gains in consumer sentiment as Americans grow more optimistic about the economy and labor market.

The consumer confidence index rose to 108.7 in October, marking the strongest monthly gain since March 2021.
Improved perceptions of the labor market contributed to the increase, with more consumers viewing jobs as plentiful and fewer seeing them as hard to get.
Short-term expectations for income, business conditions, and the job market also improved, with the expectations index rising to 89.1.
Despite the boost in confidence, the index remains below pre-pandemic levels, reflecting ongoing concerns about inflation and interest rates.
The rise in consumer confidence comes as the US approaches a presidential election, with economic conditions being a key issue for voters.