US consumer confidence up 5.5 percentage points to 94.5; job gains feed hopes for growth

EnergyAssociated Press

U.S. consumer confidence rebounded strongly in October, as solid job gains raised expectations for economic growth.

The Conference Board says that its confidence index climbed to 94.5, reversing a dip to 89 in September from a nearly seven-year high of 93.4 in August.

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Over the past month, more Americans have become optimistic about job growth and their own earning potential, the Conference Board says.