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Consumer confidence highest in nearly 5 years

By The Associated Press

This article was published November 1, 2012 at 9:48 a.m.

— Americans’ confidence in the economy surged last month to the highest level in nearly five years, as many were encouraged by an improving job market.

The Conference Board said Thursday that its consumer confidence index increased in October to 72.2. That’s up from 70.3 in September and the highest reading since February 2008, two months into the Great Recession.

Consumers were more confident after seeing better job growth, the report noted. Hiring in July and August was stronger than first thought, and employers added a modest 114,000 jobs in September, the government reported last month.

The survey is watched closely because consumer spending drives nearly 70 percent of economic activity.

The reading is still below 90, a level that indicates a healthy economy. It last reached that level in December 2007. But the index is far above the all-time low of 25.3 touched in February 2009.

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Populist says... November 1, 2012 at 10:11 a.m.

I can't believe that the ADG is allowing good economic news to be published right before the election. The editors must have taken the morning off.

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KCSAP says... November 1, 2012 at 10:28 a.m.

Yeah right, considering consumer confidence is such great news. The soft bigotry of low expectations.

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Populist says... November 1, 2012 at 10:34 a.m.

Consumer confidence is what drives the economy. The Republicans chanting that the economy is bad for the past 4 years has not been helpful.

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Populist says... November 1, 2012 at 10:37 a.m.

It also doesn't hurt that housing prices are up, job growth is up, and manufacturing is expanding. Oh yes, the president will be reelected and has promised to avoid foreign wars and spend on education at home. The economy is starting to him, but the rightwingers are depressed because they would rather see that black dude lose.

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LevitiCuss says... November 1, 2012 at 10:48 a.m.

Damn that Obama and his Kenyan Muslim ways! How can the Republicans expect to scare the low-info FOX watchers into voting against their own when this kind of news keeps leaking out? Harumph, I say!

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Populist says... November 1, 2012 at 3:26 p.m.

The ADG is trying to keep all this good economic news low profile. They would rather we pay attention to a group of students traveling in New York. Also, there is no mention of Chris Christie praising Obama. If the ADG and Fox news were your only sources of information, you might think Obama is awful and Romney is a good guy.

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GoBigRed says... November 1, 2012 at 3:44 p.m.

All this consumer excitement for the Romney win next week (the proceeding has been a paid political announcement)

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lazybar says... November 1, 2012 at 4:26 p.m.

obozo is still a king putt,pop you were patting him on the back for the great job he is doing for the sandy victims.what did he do for the texans when the fires were burning last year?whats he done for the farmers that have been feeding you during this record drought with high fuel prices?i know exactly what he was doing,he has campaigned for 6 years and played golf on our dime for the last 4.nothing wrong with a little r and r but when the nation is starving its not good for the big man to live high on the hog.seems like the french once had a queen do that and look what the people done to her.don`t guess that`s pc in todays world so i guess we can just kick him to the curve.

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Packman says... November 1, 2012 at 4:43 p.m.

Hey Populist - Can't believe you played the race card, but then again, I can. You are the epitome of the social divisiveness inflicted by BH Obama worshippers that have torn the country apart and will continue to kill the soul of America. BH may very well win next week. If so God help freedom loving Americans. His administrative orders will cripple small business; his environmentalist goofiness will cost taxpayers billions of dollars; his love of unions will send millions of jobs overseas; his incompetence on foreign policy will lead to numerous military conflicts; his social programs will send the federal debt into a rising spiral de-valuing the dollar as never seen before; his appointments to the federal judiciary will coddle criminals and attack the 2nd Amendment in criminal proportion; Obamacare will stunt small business growth and lead to unimagineable tax increase. If re-elected, BH Obama will foster upon America a sadness that will take genertions to overcome. As to consumer confidence, it is no accident it rises in correlation to Mitt Romney's rise in the polls.

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DontDrinkDatKoolAid says... November 1, 2012 at 4:51 p.m.

Good points 1soni and Packman.

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