US consumer confidence rose in October for a
second-straight month, to its highest level of the year, data
released Thursday from the largest long-term monthly sentiment survey
showed.
The figure comes just five days before a US presidential election
that has centred around the US economy, with Republican challenger
Mitt Romney blasting President Barack Obama for his handling of the
economy.
Obama has repeatedly argued that the economic situation is
improving and has noted significant upticks since the recession he
inherited when he entered office in 2009.
The survey's index increased to 72.2 from a revised 68.4 in
September. The release of the data had been delayed two days due to
superstorm Sandy, which pummelled the US and shut down Wall Street
earlier in the week.
The results put the index at its highest mark since it stood at
71.6 in February.
"Consumers were considerably more positive in their assessment of
current conditions, with improvements in the job market as the major
driver," said Lynn Franco, the board's director of economic
indicators. "Consumers were modestly more upbeat about their
financial situation and the short-term economic outlook, and appear
to be in better spirits approaching the holiday season."
The consumer confidence survey is based on an index of 100, with
the baseline set in 1985.
