Consumer Confidence Surges in October

By Sarah ChaneyFeaturesDow Jones Newswires

A measure of U.S. consumer confidence rose in October to the highest level in nearly 17 years.

The Conference Board on Tuesday said its index of U.S. consumer confidence increased to 125.9 in October from a revised 120.6 in September. Economists surveyed by The Wall Street Journal had expected an October reading of 121.3.

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"Consumers' assessment of current conditions improved, boosted by the job market which had not received such favorable ratings since the summer of 2001," said Lynn Franco, the Conference Board's director of economic indicators. "Confidence remains high among consumers, and their expectations suggest the economy will continue expanding at a solid pace for the remainder of the year."

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(END) Dow Jones Newswires

October 31, 2017 10:33 ET (14:33 GMT)