Americans More Confident In Economy
Source: Agencies |
October 27, 2010, Wednesday
|
Print Edition
Print Edition
A monthly survey shows Americans' confidence in the economy rose only slightly in October from September.
Worries about the job market in the United States are still crimping shoppers' outlook heading into the key holiday shopping season.
The Conference Board, a private research group, said yesterday that its Consumer Confidence index rose to 50.2 from a revised 48.6 in September. Economists surveyed by Thomson Reuters were expecting 49.2.
It takes a reading of 90 to indicate a healthy economy. That level hasn't been approached since the recession began in December 2007.
Economists watch confidence closely because consumer spending accounts for about 70 percent of US economic activity and is vital to a strong rebound.
Worries about the job market in the United States are still crimping shoppers' outlook heading into the key holiday shopping season.
The Conference Board, a private research group, said yesterday that its Consumer Confidence index rose to 50.2 from a revised 48.6 in September. Economists surveyed by Thomson Reuters were expecting 49.2.
It takes a reading of 90 to indicate a healthy economy. That level hasn't been approached since the recession began in December 2007.
Economists watch confidence closely because consumer spending accounts for about 70 percent of US economic activity and is vital to a strong rebound.
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