Jobs Upturn Boosts US Confidence

29 October 2003

A perceived improvement in the US jobs market is boosting Americans' confidence in the economy.

The Conference Board's closely watched consumer sentiment index jumped from a revised 77.0 last month to a higher-than-expected 81.1 in October.

The uplift was attributed to a belief that the long-suffering employment market is on the mend. This helped raise the index measuring the current climate from 59.7 to 66.8, while the gauge of future expectations climbed from 88.5 to 90.7.

• Separately, the US economy received a further boost with the release of a Commerce Department report showing a rise in durable goods orders.

September's orders for items designed to last upwards of three years climbed 0.8% to $176.3 billion (€150.6bn; £103.3bn). Orders excluding aircraft and defence – an estimate of business investment – rose 3.9% last month after a slight fall in August.

Data sourced from: multiple sources; additional content by WARC staff