Consumer confidence Jumps to highest level since December 2000

October 31.2017
one small voice 

Ridgewood NJ, Consumer confidence rose to 125.9 in October, according to the Conference Board.The rating is at the highest level since December 2000.This accounts for Americans' views of current economic conditions and their expectations for the next six months.

Consumers were even more optimistic in October than economists polled by Reuters expected. Boosted by the job market which had not received such favorable ratings since the summer of 2001.The economic weight of Hurricanes Harvey and Irma pulled down the spirits of U.S. consumers in September, when the index was relatively flat.The high level of confidence suggests the economy will continue to expand for the rest of 2017, 

The index takes into account Americans' views of current economic conditions and their expectations for the next six months. Economists pay close attention to the numbers because consumer spending accounts for about 70 percent of U.S. economic activity.