Manufacturing . net

News

Advertisement

Survey: Consumer Confidence Highest In 5 Years
Fri, 10/26/2012 - 1:22pm
Martin Crutsinger, AP Economics Writer

WASHINGTON (AP) -- A survey shows consumer confidence rose this month to the highest level in five years, an encouraging sign for the still-weak economy

The University of Michigan's final index of October consumer sentiment rose to 82.6 from 78.3 in September. That's the highest since September 2007 — three months before the Great Recession began.

Falling gas prices and a slightly better job market lifted consumers' outlook. The unemployment rate fell to 7.8 percent last month, the first time since July 2009 than it has been below 8 percent.

The survey followed a government report that said consumer spending helped boost economic growth in the July-September quarter to a 2 percent annual rate. That's up from a 1.3 percent rate in the April-June quarter.

Topics

Advertisement

Share this Story

X
You may login with either your assigned username or your e-mail address.
The password field is case sensitive.
Loading