US consumers more confident on eve of US presidential election: survey

THE monthly consumer confidence rating has the Conference Board Consumer Confidence Index rise again in October to 72.2 from 68.4 from the month before, hitting a five-year high.

The survey showed that it was buoyed by improvements in the jobs market, which is seen as an important barometer for the health of the US economy as consumer spending accounts for 70 per cent of economic activity.

"Consumers were modestly more positive in their assessment of current conditions, with improvements in the jobs market as a major driver," said Conference Board's Lynn Franco, according to London's Containerisation International.