US consumer confidence improved in October as Americans grew more hopeful that a long-ailing jobs market was on the cusp of a recovery, a report said today.
As the employment situation appeared to stabilise, the Conference Board's index of consumer confidence climbed to 81.1 in October from a revised 77.0 in September, beating forecasts for a rise to 79.5.
"A more favorable job market was a major factor in the turnaround," said Ms Lynn Franco, Director of the Conference Board Consumer Research Center.
Still, the October jump brought this barometer of consumer attitudes to just above its level in April, a reflection of just how sharply the absence of job creation has affected the mood of Americans.
Consumers' views of the future brightened, lifting the expectations component to 90.7 in October from 88.5 in September. The current conditions index jumped to 66.8 from 59.7.