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U.S. consumer confidence unexpectedly rebounds in October -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A group of shoppers browses a supermarket wearing masks in an effort to slow the spread coronavirus disease (COVID-19), north St. Louis Missouri. U.S. April 4, 2020. REUTERS/Lawrence Bryant

WASHINGTON (Reuters] – U.S. consumer sentiment unexpectedly rose in October, as worries about inflation were countered by improved labor market prospects. It suggests that the fourth quarter saw an acceleration in economic growth.

On Tuesday, the Conference Board reported that its Consumer Confidence Index rose to 113.8 from 109.8.

In September, the index ended three consecutive monthly falls. Reuters polled economists to forecast that the index would fall to 108.3.

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