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US consumer confidence bounces back

Oct 28 2014 19:41

Washington - US consumer sentiment rebounded in October after dropping sharply a month earlier, according to results of a long-running private survey released Tuesday.

The Conference Board's consumer confidence index rose to 94.5, up from a revised 89 in September. The index is based on a 1985 baseline of 100.

Consumers reported optimism about the current and short-term outlook for the job market and the economy, the New York-based business think tank said.

"With the holiday season around the corner, this boost in confidence should be a welcome sign for retailers," Conference Board economist Lynn Franco said.

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