WASHINGTON (Reuters) – U.S. consumer confidence unexpectedly rose in October as concerns about high inflation were offset by improving labor market prospects, suggesting economic growth picked up early in the fourth quarter.
The Conference Board said on Tuesday its consumer confidence index increased to a reading of 113.8 this month from 109.8
in September, ending three straight monthly declines. Economists polled by Reuters had forecast the index dipping to 108.3.
(Reporting by Lucia Mutikani; Editing by Chizu Nomiyama)
