Consumer Confidence Hit Its Highest Level Since 2007

MADISON, Wis. - Dec. 12, 2014 - PRLog -- RIS Media, by Susan Tompor, November 5, 2014
Consumer confidence rose in October for the third consecutive month, hitting its highest level since July 2007, according to the Thomson Reuters/University of Michigan Survey of Consumers. Wall Street got back on track as well after the slide in mid-October.

Mark Zandi, chief economist with Moody's Analytics, says consumers are "slowly getting their mojo back." Zandi noted that more jobs, lower unemployment, plunging gasoline prices and record high stock prices are lifting spirits.

The index of consumer sentiment rose to 86.9 in October from 84.6 in September. Consumers felt more weight in their wallets, too. The survey noted that consumers reported the most favorable personal financial expectations, as well as the most positive year-ahead outlook for the national economy, in the past seven years.

Nearly six-in-ten consumers reported that the economy had recently improved, the most positive rating in more than 10 years.
Source: Detroit Free Press, 2014, Distributed by MCT Information Services

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