October University of Michigan / Thomson Reuters consumer confidence index surges.

Consumer Confidence Surges

Moneybox
A blog about business and economics.
Oct. 12 2012 10:31 AM

Consumer Confidence Surges

My understanding is that the University of Michigan-Thomson Reuters consumer-sentiment index isn't a particularly valuable economic indicator, but the new release today showed a surge in confidence up to 83.1 in a preliminary October reading from a final September reading of 78.3—that means we're back up to pre-recession levels.

Matthew Yglesias is the executive editor of Vox and author of The Rent Is Too Damn High.

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