Americans’ expectations for the economy in October climbed to the highest level in almost two years as a pickup in hiring, falling gasoline prices, and low borrowing costs heartened households.
A measure tracking the economic outlook climbed to 51 this month, the strongest since November 2012, from 41.5 in September, data from the Bloomberg Consumer Comfort Index showed today. The weekly sentiment index was little changed at 36.2 for the period ended Oct. 12 from 36.8.
The lowest jobless rate since 2008 and the cheapest gasoline costs in a year probably combined to lift households’ spirits about the future. The upbeat mood may be difficult to sustain as stocks slump and concern grows that the Ebola virus poses a wider health risk.
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