U.S. consumer confidence unexpectedly improved in October, rising for the first
time in four months, the Conference Board said on Tuesday. The consumer
confidence index jumped 7.5 points to 91.7, its highest since June and well
above the economists' median forecast of 81.0. The six-month expectations index
climbed about 7 points to 72.6, while the present-situation index reached a
six-month high. The Conference Board said the confidence uptick is consistent
with a retreat in retail gasoline prices from September to October, but added
that confidence remains on a longer-term downward trend despite the October
improvement.
