WASHINGTON — American consumers are the most confident they’ve been in nearly 17 years, more good news for an already healthy economy.
The Conference Board said Tuesday that its consumer confidence index hit 125.9 in October, up from a revised 120.6 in September and the highest reading since December 2000.
The October confidence readings suggest the economy will continue expanding at a solid pace for the remainder of the year, a Conference Board economist said. Associated Press/Charlie Riedel, file
The business research group’s index measures consumers’ assessment of current conditions and their outlook for the next six months. Both rose in October.
A healthy job market contributed to the sunny mood. Unemployment is at a 16-year low 4.2 percent. More than 36 percent of survey respondents told the Conference Board that jobs were “plentiful” – the highest share since mid-2001.
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