Consumer Confidence Jumps In October To Reading Of 94.5

The Conference Board said Tuesday that consumer confidence in October rose to a reading of 94.5, up from 89 in September. Economists polled by MarketWatch expected an 87.3 reading. "A more favorable assessment of the current job market and business conditions contributed to the improvement in consumers' view of the present situation. 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," said Lynn Franco, director of economic indicators.