U.S. Consumer Confidence Just Hit Its Highest Level in Almost 17 Years
A customer shops as bottles of Coca-Cola Co. brand soda sit on display for sale inside of a Ralphs Grocery Co. in Los Angeles, California, U.S., on Friday, Oct. 20, 2017. Coca-Cola Co. is scheduled to release earnings figures on October 25.
Photographer: Christopher Lee/BloombergU.S. consumer confidence rose more than expected in October to the highest in almost 17 years as Americans grew more confident about the economy and job market, according to figures Tuesday from the New York-based Conference Board.
Jumps in the Conference Board’s measures of the present situation and expectations signal Americans are becoming more upbeat about the economy and employment as the labor market improves and stock prices climb to records. Improvement in household confidence helps underpin their spending, the biggest part of the economy.