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

WASHINGTON – 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.

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