Debt Deal Seen Boosting U.S. Consumers as Holidays Near: Economy

American consumers are likely to breathe easier during the holiday shopping season now that lawmakers have struck a deal to avert a U.S. default and end a government shutdown.

The political gridlock that ended yesterday helped push expectations for the economy to a two-year low in October, according to the Bloomberg Consumer Comfort Index released today. Confidence will rebound, predicts economist Neil Dutta, boding well for the spending that accounts for 70 percent of gross domestic product.