U.S. Consumer Confidence Hits 18-Year High on Jobs, Income Views
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U.S. consumer confidence rose in October to an 18-year high amid optimism about jobs and the economy, according to figures Tuesday from the New York-based Conference Board.
The results, coming amid a rout in U.S. stocks, bode well for continued gains in consumer spending, which accelerated in the third quarter to the best pace since 2014. A solid job market is helping to support household confidence as well as Americans’ purchases, which account for about 70 percent of the economy. The figures add to signs of contentment with the economy ahead of next week’s U.S. midterm elections that will decide control of both houses of Congress.