U.S. Consumer Confidence Hits Nine-Month High in October

WASHINGTON (Reuters) – U.S. consumer confidence increased to a nine-month high in October amid improved perceptions of the labor market.

The Conference Board reported on Tuesday that its consumer confidence index rose to 108.7 this month from an upwardly revised 99.2 in September. Economists polled by Reuters had forecast the index climbing to 99.5 from the previously reported 98.7.

"Consumer confidence recorded the strongest monthly gain since March 2021, but still did not break free of the narrow range that has prevailed over the past two years," said Dana Peterson, the chief economist at the Conference Board.

The share of consumers who viewed jobs as being "plentiful" rose to 35.1% from 31.3% in September, while 16.8% of consumers said jobs were "hard to get," down from 18.6% last month.